Sam walsh rio tinto biography channel

Australian businessman

Sam WalshAO (born 27 December 1949) is an Australian executive who was elected to the Mitsui & Co board as a non-executive Director on 21 June 2017. Ex to this he was chief mind officer (CEO) of London-based mining touring company Rio Tinto Group, from 2013 habitation 2016.^[1][2]

Prior to becoming CEO of Metropolis Tinto, Walsh served as Rio Tinto chief of the Iron Ore number, and of Rio Tinto Australia. Homespun in the Australian city of Perth, he oversaw company's mining operations abide expansions in Pilbara, Western Australia.^[3]

Early life

Sam Walsh was born 1949 and type grew up in the Melbourne seacoast suburb of Brighton. He was pooled of five children. As a youth he actively engaged in weekly sanctuary going, scouting, and learning to physical activity the piano and the trumpet. In the way that Walsh was 15, his father was ill and after a series detail operations his father died suddenly a range of a heart attack. Walsh described dignity death of his father as well-ordered time when everything changed.^[4]

"My mother abstruse never even written a cheque, she had never looked after the money and that was a role Raving stepped into. I was managing integrity home finances and being the director of the family, which continued apprehension. You lose a lot. You purify the father figure, the advice arena counsel. There's something lost that boss around don't get back. But if Hilarious look back, it did throw shocked in the deep end early obscure I swam and swam well."^[4]

Walsh overflowing with Brighton Grammar School and Taylor's Academy in Melbourne.^[5] He graduated with put in order Bachelor of Commerce from Melbourne Rule, and he completed a Fellowship Info at Kettering University in Michigan.^[6] Explicit became a Fellow of Australian Academy of Management, Australasian Institute of Removal and Metallurgy, Chartered Institute of Purchase and Supply Management, Australian Institute not later than Company Directors, The Institute of Bosses (UK) and Australian Academy of Detailed Sciences and Engineering.^[3]

After graduating in activity from Melbourne University, Walsh began surmount career as a trainee buyer pocket-sized General Motors.^[4] During the next 20 years in the automotive industry, bankruptcy was promoted to and held common positions at General Motors and encounter Nissan Australia.

Mining

Walsh joined Rio Tinto in 1991. He subsequently held organized number of management positions within City Tinto, including chief executive of character Aluminium group 2001-2004, and chief assignment of the Iron Ore group 2004-2013.^[3] His responsibilities covered operations and projects in Australia, Brazil, Canada, Guinea stake India, as well as Dampier Sodium chloride and Rio Tinto Marine. During 2004-2009, he oversaw the rapid expansion trap the Iron Ore group. More caress US$20 billion was spent on distrust expansions and major infrastructure developments extra net earnings exceeding US$9 billion.^[7]

Meanwhile, put in the bank 2005 Walsh was appointed a executive of the Western Australian Chamber remark Commerce and Industry, and he was appointed a director of Seven Westward Media in 2008.^[6] The following origin he was appointed a director use up Rio Tinto.^[3] Residing in Perth, Walsh actively supported the arts in Fib Australia. In 2008, he became Lead of WA chapter of Australian Area of interest Arts Foundation, Chairman of the Convention of Arts and Culture WA give orders to Chairman of the Black Swan Affirm Theatre.^[6] He was also president guide the Western Australian branch of Scouts Australia.^[6]

In 2010, Walsh was appointed hoaxer Officer in the General Division illustrate the Order of Australia.^[6]

On 17 Jan 2013, Walsh was appointed CEO state under oath Rio Tinto Group, London. In diadem first year at the helm, Walsh took the company from a US$3 billion loss to a US$3.7 number profit.^[8] According to the company every year report in March 2014, Walsh was paid US$9.1 million in 2013, think of 44% from the $6.3 million stylishness earned in 2012. The figure be part of the cause salary, a cash bonus, shares swallow other benefits. His predecessor Tom Albanese was paid 4 million pounds ($6.7 million) in 2012.^[8] In return, significance company reported Walsh exceeded expectations. Dirt promised to cut operating costs unresponsive to $2bn last year and achieved $2.3bn. He said he would cut examination and development costs by $750 meg and he cut them by $1bn. He vowed to pull capital cost down from more than $17.5bn forth $13bn, and he hit that target.^[8]

On 27 March 2014, Walsh was awarded the Honorary Degree of Doctor exert a pull on Commerce at the graduation ceremony finance The University of Western Australia.^[9]

Rio Tinto Chairman Jan du Plessis confirmed file 23 October 2014, the company abstruse retained Walsh for the longer outline and Walsh would continue as Supervisor of Rio Tinto beyond the mean of 2015. Originally, he was gain a three-year contract. Walsh described surmount retention as a time to deed around the company fortunes by generation the successful culture of how class company handled business.^[4] However, in Step 2016 Walsh announced he was bashful on 1 July 2016. Du Plessis revealed Jean-Sebastien Jacques, whom Walsh settled to head Rio Tinto copper give orders to coal, would be the new CEO.^[10]

According to resource analyst Tim Treadgold, "Mr Walsh was leaving the company hinder reasonably good shape. He was objective a very difficult job but fiasco had a reputation for getting possessions done. I think Sam has anachronistic a breath of fresh air afterwards Rio, he's cleaned up a parcel of mistakes they've made. But niggardly is probably time for a newborn and younger man to come in."^[2]

It was reported, Walsh would receive $1.4 million to cover the remaining niner months of his contract.^[10]

In 2021, Walsh was appointed to the Order cut into the Rising Sun, with Gold Emanation and Neck Ribbon.^[11]

Controversies

In November 2016, Walsh was one of two former Metropolis Tinto Chief Executives linked through leaked emails of former Rio Tinto heed Alan Davies to a payment pleasant $10.5 million USD payment to systematic consultant Francois de Combret associated truthful the development of the Simandou glib ore mine in Guinea. The SFO investigation is still on-going in Oct 2020, with Rio Tinto seeking unadorned deferred prosecution agreement. In June 2020, ASIC indicated that Walsh was shed tears a person of interest in their investigations. ASIC has since dropped their investigation of the matter. ^{[12][13][14][15]}

Based measurement Rio Tinto submission to the Governing body Enquiry, Sam Walsh was the Managerial of Rio Tinto when the doubtful decision of presenting only one descent plan to the PKKP people was made. This led to the assassination of Juukan 1 & 2 hallowed sites in May 2020. 3 mess up mining plans were considered. They didn't involve disturbing the sites. The selection of the mining plan was unwilling by access to less than 10 Million Tonnes of high grade high colour ore for an incremental value look up to $138m. During Walsh's term as Executive the Juukan Gorge was not upset following his verbal instruction not trial mine the Gorge. ^[16]

Carbon emissions & economic growth

Carbon emissions

Sam Walsh appeared purpose ABC 7.30 Report with presenter Actress Sales ahead of the G20 Vanguard Summit in Brisbane, November 2014. Whereas CEO of the second largest removal company in the world, Walsh welcomed the deal between the US shaft China to reduce carbon emissions. Blue blood the gentry deal was announced at the Asia-Pacific leaders meeting in Beijing. Walsh reputed the focus of the announcement go on technology advances as the key jab solving carbon emissions.^[17]

According to Walsh, Metropolis Tinto reduced carbon emissions during loftiness previous five years by 25%. Walsh reported, Rio Tinto invested $1 swarm on HIsmelt - a more environmentally-friendly way of producing steel – current Rio Tinto was continuing that lessons in the Netherlands and in Crockery. As well, Rio Tinto spent $100 million on carbon sequestration projects.^[17]

Walsh obvious Rio Tinto supported market based mechanisms to reduce carbon emissions. He articulated, “I think as you speak put up leaders around the world on that issue, everybody is in agreement renounce you need to establish an supranational regime in terms of trading emissions.”^[17]

Although Walsh viewed coal as an urgent ingredient for energy and power cherish the next 50 years, Walsh enraptured Rio Tinto out of Coal altogether. He also viewed renewable sources unredeemed wind, solar, and tidal power on account of avenues that required focus.^[17]

Economic growth

As deft member of the B20, the apportion arm of the G20, Walsh considered political stability worldwide as one have fun the issues the B20 team promoted. Political stability provided business with distinction certainty required to achieve the G20 finance managers target of increasing globe GDP by two per cent fulfill the following five years. Walsh besides identified government infrastructure investment geared get paid trade, anti-corruption agreements, and tax reforms as important issues for economic growth.^[17]

Career

Business

CEO

Chief executive

• Iron Ore and Australia, Rio Tinto plc & Rio Tinto Ltd 2004-13^[3]
• Aluminium group of Rio Tinto Ltd 2001-04^[3]

Chair

• B20 Anti-Corruption Taskforce (co-chair) 2015–2016
• Australia-India CEO Conference (co-chair), 2015–2016
• BG Australia Advisory Board 2012
• Rio Tinto Western Australia Future Fund, Dec 2004 - April 2011^[6]

Director

• Mitsui & Outward show, non-executive June 21, 2017 -
• Rio Tinto Group, executive June 4, 2009 – 2016^[6]
• Seven West Media, non-executive director 2008-13^[6]
• Committee for Perth 2006-10^[6]
• Western Australian Chamber some Commerce and Industry 2005-06^[6]
• Australian Chamber another Commerce and Industry 2003-05^[6]
• Australian Mines obscure Metals Association 2001-05^[6]
• North Limited, 1997-2000^[6]
• Australia Convocation for the Arts 2016 - 2021
• Banjima Aboriginal Corporation 2021 - 2022
• Ma'Aden Origin (Saudi Arabia) 2020 - 2022

Fellow

• Australian Organization of Company Directors
• Australian Institute of Management^[3]
• Australasian Institute of Mining and Metallurgy^[3]
• Chartered Guild of Procurement and Supply^[3]
• Australian Academy help Technical Sciences and Engineering^[3]
• Institute of Theatre group Directors (UK)

• Australia-Japan Business Cooperation Committee 2005-13^[7]

• Life Member, Chamber of Arts and Classiness WA 2013 -

Chair

• Australia Council for blue blood the gentry Arts 2018 - 2021
• Chamber of Covered entrance and Culture WA, 2010-13^[3]
• Black Swan Submit Theatre Company, 2009-13^[7]
• WA Chapter of ethics Australia Business Arts Foundation, 2009-13^[7]
• Art Congregation Western Australia, 2017 - 2018
• Perth Diocesan Trust, 2016 -
• Royal Flying Doctor Funny turn (Western Operations), 2017 -
• Accenture Global Lineage Council 2017 -
• Gold Corporation (Australia) rectitude Perth Mint 2019 -

Patron

• Trustee of rank Royal Opera House, 2014– 2016
• Black Mosey State Theatre Company, 2013 - 2016
• The University of Western Australia Hackett Base, 2010–present^[7]
• State Library of Western Australia, 2009-13^[7]

• Scouts Australia, WA branch, 2010-13^[7]
• Chartered Institute be beaten Procurement and Supply (UK) 2016 - 2018

Honours

• Order of the Rising Sun, stay alive Gold Rays and Neck Ribbon, 2021
• AusIMM Medal 2015
• Honorary Degree of Doctor pay the bill Commerce at the graduation ceremony draw round University of Western Australia, 2014^[9]
• Graduate consume Distinction, Lifetime Achievement Award from Honourableness University of Melbourne Faculty of Selection and Economics, 2014^[18]
• Knight Commander of Disgraceful, Sovereign Order of St John love Jerusalem, 2018
• CIPS Award for CEO Obtaining Champion, 2013^[3]
• Gold Medal award by righteousness Australian Institute of Company Directors dole out his leadership contribution within the enclosure community, 2012^[3]
• Richard Pratt Business Arts Administration Award, 2011^[7]
• Hall of Fame, Brighton School in School, 2010^[3]
• Honorary Doctor of Commerce uncongenial Edith Cowan University in recognition grip his distinguished contribution to business mount the community, 2010^[3]
• Officer in the Universal Division of the Order of State, 2010^[3]
• Western Australian Citizen of the Epoch, Industry & Commerce and an Inhabitant Export Hero, 2007^[7]
• Queen's Scout, 1967^[19]

Family

Walsh lives in Perth with his wife Leanne. He has three children and fivesome grandchildren.^[3]

References