The Australasian Centre for Corporate Responsibility (ACCR) welcomes news that Rio Tinto Chair, Simon Thompson, and director Michael L’Estrange have decided to step down, but says all of the company’s directors should reflect on whether their continuation is in the interests of the company and its shareholders.
Commenting on the resignations, James Fitzgerald, General Counsel/Strategy Lead at ACCR said:
“There is no realistic prospect of Rio Tinto rebuilding relationships, trust and reputation while those responsible for the degradation of its culture and social performance remain on the board.
“The departure of Rio Tinto’s Chair, Simon Thompson and director, Michael L’Estrange, suggests that the company understands this.
“Other Rio Tinto directors who enabled the unhappy regime of the past few years, or who have made excuses for it, are encouraged to reflect on whether their continuing presence on the board is truly in the interest of the company and its shareholders.”