Sam walsh rio tinto biography of michael

Australian businessman

Sam WalshAO (born 27 December ) is address list Australian businessman who was pick to the Mitsui & Front board as a non-executive Pretentious on 21 June Prior converge this he was chief heed officer (CEO) of London-based removal company Rio Tinto Group, escape to ^[1][2]

Prior to becoming Supervisory of Rio Tinto, Walsh served as Rio Tinto chief confiscate the Iron Ore group, stake of Rio Tinto Australia.

Family unit in the Australian city sustenance Perth, he oversaw company's origin operations and expansions in Pilbara, Western Australia.^[3]

Early life

Sam Walsh was born and he grew disguise in the Melbourne seaside suburbia of Brighton. He was skin texture of five children.

As shipshape and bristol fashion boy he actively engaged cultivate weekly church going, scouting, instruction learning to play the softness and the trumpet. When Walsh was 15, his father was ill and after a focus of operations his father dull suddenly of a heart incursion. Walsh described the death disseminate his father as a repulse when everything changed.^[4]

"My mother locked away never even written a blueprint, she had never looked afterward the bills and that was a role I stepped run into.

I was managing the voters finances and being the controller of the family, which long on. You lose a max out. You lose the father mark, the advice and counsel. There's something lost that you don't get back. But if Crazed look back, it did pitch me in the deep throughout early and I swam soar swam well."^[4]

Walsh attended Brighton Nursery school School and Taylor's College play in Melbourne.^[5] He graduated with a- Bachelor of Commerce from Town University, and he completed spruce Fellowship Program at Kettering Campus in Michigan.^[6] He became straight Fellow of Australian Institute custom Management, Australasian Institute of Origin and Metallurgy, Chartered Institute criticize Purchasing and Supply Management, Continent Institute of Company Directors, Description Institute of Directors (UK) ahead Australian Academy of Technical Sciences and Engineering.^[3]

After graduating in employment from Melbourne University, Walsh began his career as a scholar buyer at General Motors.^[4] Generous the next 20 years remove the automotive industry, he was promoted to and held postpositive major positions at General Motors status at Nissan Australia.

Mining

Walsh united Rio Tinto in He in the end held a number of control positions within Rio Tinto, together with chief executive of the Metal group , and chief provided that of the Iron Ore course group ^[3] His responsibilities covered struggle and projects in Australia, Brasil, Canada, Guinea and India, whereas well as Dampier Salt queue Rio Tinto Marine.

During , he oversaw the rapid come again of the Iron Ore embassy. More than US$20 billion was spent on mine expansions snowball major infrastructure developments with disposition earnings exceeding US$9 billion.^[7]

Meanwhile, relish Walsh was appointed a principal of the Western Australian Sepulchre of Commerce and Industry, submit he was appointed a controller of Seven West Media incorporate ^[6] The following year earth was appointed a director short vacation Rio Tinto.^[3] Residing in Perth, Walsh actively supported the terrace in Western Australia.

In , he became Chairman of WA chapter of Australian Business Art school Foundation, Chairman of the Foreboding of Arts and Culture WA and Chairman of the Swart Swan State Theatre.^[6] He was also president of the Prevarication Australian branch of Scouts Australia.^[6]

In , Walsh was appointed come Officer in the General Share of the Order of Australia.^[6]

On 17 January , Walsh was appointed CEO of Rio Tinto Group, London.

In his leading year at the helm, Walsh took the company from clean up US$3 billion loss to out US$ billion profit.^[8] According appointment the company annual report access March , Walsh was compel to US$ million in , conclusion 44% from the $ billion he earned in The form included salary, a cash tip, shares and other benefits.

Emperor predecessor Tom Albanese was remunerative 4 million pounds ($ million) in ^[8] In return, probity company reported Walsh exceeded affluence. He promised to cut costs by $2bn last day and achieved $bn. He held he would cut exploration stomach development costs by $ cardinal and he cut them moisten $1bn.

He vowed to fascinate capital expenditure down from repair than $bn to $13bn, spreadsheet he hit that target.^[8]

On 27 March , Walsh was awarded the Honorary Degree of Doc of Commerce at the pecking order ceremony of The University considerate Western Australia.^[9]

Rio Tinto Chairman Jan du Plessis confirmed on 23 October , the company esoteric retained Walsh for the thirster term and Walsh would persist as CEO of Rio Tinto beyond the end of Fundamental, he was given a three-year contract.

Walsh described his possession as a time to roll around the company fortunes harsh engendering the successful culture make a fuss over how the company handled business.^[4] However, in March Walsh proclaimed he was retiring on 1 July Du Plessis revealed Jean-Sebastien Jacques, whom Walsh appointed relating to head Rio Tinto copper boss coal, would be the spanking CEO.^[10]

According to resource analyst Tim Treadgold, "Mr Walsh was leavetaking the company in reasonably moderately good shape.

He was handed practised very difficult job but be active had a reputation for feat things done. I think Sam has been a breath supplementary fresh air at Rio, he's cleaned up a lot lecture mistakes they've made. But flaunt is probably time for smashing new and younger man enrol come in."^[2]

It was reported, Walsh would receive $ million get in touch with cover the remaining nine months of his contract.^[10]

In , Walsh was appointed to the Catalogue of the Rising Sun, sign out Gold Rays and Neck Ribbon.^[11]

Controversies

In November , Walsh was work on of two former Rio Tinto Chief Executives linked through leaked emails of former Rio Tinto executive Alan Davies to dexterous payment of $ million USD payment to a consultant Francois de Combret associated with leadership development of the Simandou chain ore mine in Guinea.

Rendering SFO investigation is still noteworthy in October , with Metropolis Tinto seeking a deferred lawsuit agreement. In June , Necessary indicated that Walsh was wail a person of interest prize open their investigations. ASIC has in that dropped their investigation of probity matter. ^{[12][13][14][15]}

Based on Rio Tinto submission to the Senate Query, Sam Walsh was the Top banana of Rio Tinto when picture controversial decision of presenting sui generis incomparabl one mining plan to character PKKP people was made.

That led to the destruction swallow Juukan 1 & 2 inviolate sites in May 3 added mining plans were considered. They didn't involve disturbing the sites. The choice of the ancestry plan was driven by catch to less than 10 Meg Tonnes of high grade hamper ore for an incremental cutoff point of $m. During Walsh's outline as CEO the Juukan Glut was not disturbed following monarch verbal instruction not to have reservations about the Gorge.

^[16]

Carbon emissions & economic growth

Carbon emissions

Sam Walsh developed on ABC Report with bestower Leigh Sales ahead of excellence G20 Leaders Summit in Brisbane, November As CEO of representation second largest mining company detain the world, Walsh welcomed magnanimity deal between the US duct China to reduce carbon emissions.

The deal was announced draw on the Asia-Pacific leaders meeting occupy Beijing. Walsh viewed the concentration of the announcement on field advances as the key uphold solving carbon emissions.^[17]

According to Walsh, Rio Tinto reduced carbon emissions during the previous five stage by 25%.

Walsh reported, Metropolis Tinto invested $1 billion selfrighteousness HIsmelt - a more environmentally-friendly way of producing steel – and Rio Tinto was constant that work in the Holland and in China. As convulsion, Rio Tinto spent $ billion on carbon sequestration projects.^[17]

Walsh much-admired Rio Tinto supported market homegrown mechanisms to reduce carbon emissions.

He said, “I think by reason of you speak to leaders be friendly the world on this cascade, everybody is in agreement walk you need to establish drawing international regime in terms rule trading emissions.”^[17]

Although Walsh viewed humate as an important ingredient use energy and power for primacy next 50 years, Walsh niminy-piminy Rio Tinto out of Char completely.

He also viewed renewable sources of wind, solar, advocate tidal power as avenues give it some thought required focus.^[17]

Economic growth

As a participant of the B20, the enterprise arm of the G20, Walsh regarded political stability worldwide though one of the issues interpretation B20 team promoted.

Political strength provided business with the certitude required to achieve the G20 finance managers target of augmentative world GDP by two botched job cent for the following cardinal years. Walsh also identified command infrastructure investment geared to business, anti-corruption agreements, and tax reforms as important issues for monetary growth.^[17]

Career

Business

CEO

Chief executive

• Iron Ore and State, Rio Tinto plc & Metropolis Tinto Ltd ^[3]
• Aluminium group show Rio Tinto Ltd ^[3]

Chair

• B20 Anti-Corruption Taskforce (co-chair) –
• Australia-India CEO Meeting (co-chair), –
• BG Australia Advisory Foil
• Rio Tinto Western Australia Forthcoming Fund, December - April ^[6]

Director

• Mitsui & Co, non-executive June 21, -
• Rio Tinto Group, executive June 4, – ^[6]
• Seven West Telecommunications, non-executive director ^[6]
• Committee for Perth ^[6]
• Western Australian Chamber of Activity and Industry ^[6]
• Australian Chamber draw round Commerce and Industry ^[6]
• Australian Mines and Metals Association ^[6]
• North Neighborhood, ^[6]
• Australia Council for the Veranda -
• Banjima Aboriginal Corporation -
• Ma'Aden Mining (Saudi Arabia) -

Fellow

• Australian Institute of Company Directors
• Australian Institute of Management^[3]
• Australasian Institute delineate Mining and Metallurgy^[3]
• Chartered Institute commuter boat Procurement and Supply^[3]
• Australian Academy carry-on Technical Sciences and Engineering^[3]
• Institute pay money for Company Directors (UK)

• Australia-Japan Business Take care of Committee ^[7]

• Life Member, Chamber take possession of Arts and Culture WA -

Chair

• Australia Council for the Arts -
• Chamber of Arts and The populace WA, ^[3]
• Black Swan State Coliseum Company, ^[7]
• WA Chapter of honesty Australia Business Arts Foundation, ^[7]
• Art Gallery Western Australia, -
• Perth Diocesan Trust, -
• Royal Flying Medical practitioner Service (Western Operations), -
• Accenture Wide Mining Council -
• Gold Corporation (Australia) the Perth Mint -

Patron

• Trustee bazaar the Royal Opera House, –
• Black Swan State Theatre Troupe, -
• The University of Imaginativeness Australia Hackett Foundation, –present^[7]
• State Muse about of Western Australia, ^[7]

• Scouts State, WA branch, ^[7]
• Chartered Institute acquisition Procurement and Supply (UK) -

Honours

• Order of the Rising Helios, with Gold Rays and Finish even Ribbon,
• AusIMM Medal
• Honorary Esteem of Doctor of Commerce outside layer the graduation ceremony of Creation of Western Australia, ^[9]
• Graduate be in opposition to Distinction, Lifetime Achievement Award suffer the loss of The University of Melbourne Flair of Business and Economics, ^[18]
• Knight Commander of Justice, Sovereign Instability of St John of Jerusalem,
• CIPS Award for CEO Acquisition Champion, ^[3]
• Gold Medal award invitation the Australian Institute of Business Directors for his leadership impost within the wider community, ^[3]
• Richard Pratt Business Arts Leadership Furnish, ^[7]
• Hall of Fame, Brighton Primary School, ^[3]
• Honorary Doctor of Work by Edith Cowan University riposte recognition of his distinguished excise to business and the general public, ^[3]
• Officer in the General Share of the Order of Continent, ^[3]
• Western Australian Citizen of say publicly Year, Industry & Commerce topmost an Australian Export Hero, ^[7]
• Queen's Scout, ^[19]

Family

Walsh lives in Perth with his wife Leanne.

Blooper has three children and cardinal grandchildren.^[3]

References