Baatar appointed Rio Tinto COO to spearhead global business development
Multinational mining giant Rio Tinto has announced the appointment of Bold Baatar as its COO, tasked with spearheading the group's commercial and business development endeavours worldwide.
Baatar's ascent comes as Alf Barrios, the incumbent COO, prepares for retirement from Rio Tinto.
Currently serving as the chief executive for copper within the organisation, Baatar is set to assume responsibility for business development with immediate effect. His relocation to Singapore is slated for September 1, where he will officially take the reins as COO.
With a career marked by an extensive portfolio across diverse geographies, commodities, and markets, Baatar brings a wealth of experience to his new position. Rio Tinto's CEO, Jakob Stausholm, expressed confidence in Baatar's capabilities. "Bold is ideally suited to help deliver our strategy of building a stronger Rio Tinto for the future and growing with discipline."
As part of his new mandate, Baatar will oversee Rio Tinto's commercial operations, including sales and marketing, procurement, marine, and logistics activities. Moreover, he will assume leadership for the group's business development initiatives, while retaining his role as the executive committee lead for Guinea. This entails continued stewardship of Rio Tinto's relationships with joint venture partners, particularly regarding the significant Simandou iron-ore project.
Barrios will continue to serve as COO until the end of August, after which he will transition to the role of chair for China, Japan, and Korea, in addition to maintaining his position as an executive committee member. Barrios is set to retire from Rio Tinto by the end of 2024.
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