The Australian Council of Superannuation Investors (ACSI) has welcomed the announcement of executive departures by Rio Tinto in light of the destruction of culturally significant sites in the Juukan Gorge.
ACSI CEO Louise Davidson said “Despite a drawn out process, we feel the Board has listened to investors and other stakeholders and taken appropriate steps to ensure executive accountability for the systemic failures that led to the disaster at Juukan Gorge.”
“Rio Tinto now has the opportunity to address the necessary remediation, cultural heritage and risk processes with fresh eyes. Rio Tinto must prioritise working with traditional owners the Puutu Kunti Kurrama and Pinikura people to rebuild their relationship. It is critical that this is not delayed.”
“We are pleased to see there is greater recognition that the board must increase its connection with Australian operations and communities. This work will be ongoing and must be a feature of future appointments to the board.”
“Investors will continue to engage with Rio Tinto to understand how the company will manage this transition period. We will also be looking closely at the separation arrangements, with the expectation that any exit won’t provide a windfall for executives on their departure.” She said.
Media contact: Nathan Robertson (0423874662)