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Breakingviews: Rio’s Rushed Reshuffle

Thursday, 17 Jan, 2013 - 03:57

Jan. 17 - Rio Tinto's new CEO, Sam Walsh, is experience and capable, but the decision to replace Tom Albanese immediately looks rushed, says Breakingviews.

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-- not succession makes bad news that were us that is the breaking news take on the exit of Rio Tinto CEO Tom Albany's Chris Hughes. Joins me now this is get the facts straight fourteen billion dollar write down. A three from Mozambique operations of 9/11 from -- -- -- Austria's Alcan acquisition Eisen. I don't think it's wrong. That's a very good question how -- the years from zero to ten big deals. Where the company has made. Rio terrorism judgment now with the for the same reasons that something. Wrong in the DNA of -- in the ways it's. It's. Approves big transactions. -- encumbered the part of me that surely. We have very different and the write downs it be for different reasons -- votes on the market -- I mean and outcomes case that was not. The the ride down there's more prone ourselves. Come in the day in. -- -- -- Public auction process. Remember about him seven. That the that the humans with the -- and it's just -- Paul. And you can you can see how. That's transaction gains in the mend some of its iron. On the coming into the path of paying. In the case all of ridges fail this -- on behalf. Commendable and turned 211. It looks more life. The I mean it's who was more worrying is that part of the looks like a failure of really. Basic due to distance. -- that they now think that the it's. You know the quality of the our citizens think right there are questions. The route to market to me this is -- Basis basics out of every it really shouldn't -- -- al-Qaeda is the fact that. -- the the the the opinion on this the breaking news opinion is okay. Maybe fourteen billion as a bit of surprise and -- that march. I'm now openly is doing so quickly that the surprise to you guys and you'll saying maybe that's a little bit to race. Well I'm in my always been has been. All walks for a while the cause. I'll turn. Technically out from under his watch as I said that it happened this. I only moments. Off the conception trained by -- previous regime is still his they'll. Now there was a sense that I Steve -- always got a bit of a reprieve I think investors were expecting a more than the conventional succession process. -- places via. The way it is normal internal konduz and Marcus. But this sort of crisis with Mozambique has forced the issue there may be that actually. Bringing for the appointment making an instant snapped in total appointment in this -- foremost is the least the options. Facing. -- I mean it's smoltz. If not the way things than what we've done. He's been -- Quote 10. And normally you would expect that to be a move to a formal good -- It's some he is that that the content. Wolf is is is -- -- in these very experienced it is there a reason say that. That he's the sort of the wrong person. But you Roman not. Do these things that -- right and they grip and it didn't agree Russian involvement will be forced into the in the weather system and install as a quicker. -- surrogate Chris you read the full peace now on the breaking news sites and of course on the Roy just want. -- for more -- setting aside what's the US show you out of comes on every day twelve birdies in 1730 GMT I'm -- problem -- his choices.

Breakingviews: Rio’s Rushed Reshuffle

Thursday, 17 Jan, 2013 - 03:57

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