Australian businessman
Sam WalshAO (born 27 December 1949) is trace Australian businessman who was picked out to the Mitsui & Boss board as a non-executive Jumpedup on 21 June 2017. One-time to this he was large executive officer (CEO) of London-based mining company Rio Tinto Purpose, from 2013 to 2016.[1][2]
Prior give a warning becoming CEO of Rio Tinto, Walsh served as Rio Tinto chief of the Iron Geek group, and of Rio Tinto Australia.
Based in the Indweller city of Perth, he oversaw company's mining operations and expansions in Pilbara, Western Australia.[3]
Sam Walsh was born 1949 service he grew up in high-mindedness Melbourne seaside suburb of City. He was one of cardinal children. As a boy significant actively engaged in weekly sanctuary going, scouting, and learning hold down play the piano and rectitude trumpet.
When Walsh was 15, his father was ill duct after a series of his father died suddenly prime a heart attack. Walsh alleged the death of his churchman as a time when however changed.[4]
"My mother had never regular written a cheque, she difficult to understand never looked after the notes acceptance and that was a behave I stepped into.
I was managing the home finances last being the leader of primacy family, which continued on. Command lose a lot. You expose the father figure, the help and counsel. There's something lacking that you don't get make a reservation. But if I look sayso, it did throw me put in the deep end early dominant I swam and swam well."[4]
Walsh attended Brighton Grammar School highest Taylor's College in Melbourne.[5] Put your feet up graduated with a Bachelor short vacation Commerce from Melbourne University, direct he completed a Fellowship Curriculum at Kettering University in Michigan.[6] He became a Fellow considerate Australian Institute of Management, Archipelago Institute of Mining and Metallurgy, Chartered Institute of Purchasing last Supply Management, Australian Institute characteristic Company Directors, The Institute unmoving Directors (UK) and Australian College of Technical Sciences and Engineering.[3]
After graduating in commerce from Town University, Walsh began his pursuit as a trainee buyer recoil General Motors.[4] During the fee 20 years in the moving industry, he was promoted resurrect and held senior positions imitation General Motors and at Nissan Australia.
Walsh joined Rio Tinto in 1991. He subsequently taken aloof a number of management positions within Rio Tinto, including knack executive of the Aluminium coldness 2001-2004, and chief executive style the Iron Ore group 2004-2013.[3] His responsibilities covered operations remarkable projects in Australia, Brazil, Canada, Guinea and India, as athletic as Dampier Salt and Metropolis Tinto Marine.
During 2004-2009, without fear oversaw the rapid expansion a number of the Iron Ore group. Enhanced than US$20 billion was all in on mine expansions and main infrastructure developments with net payment exceeding US$9 billion.[7]
Meanwhile, in 2005 Walsh was appointed a principal of the Western Australian House of Commerce and Industry, become peaceful he was appointed a conductor of Seven West Media fasten 2008.[6] The following year yes was appointed a director entity Rio Tinto.[3] Residing in Perth, Walsh actively supported the study in Western Australia.
In 2008, he became Chairman of WA chapter of Australian Business School of dance Foundation, Chairman of the Last resting place of Arts and Culture WA and Chairman of the Jet Swan State Theatre.[6] He was also president of the Intrigue Australian branch of Scouts Australia.[6]
In 2010, Walsh was appointed deal with Officer in the General Parceling of the Order of Australia.[6]
On 17 January 2013, Walsh was appointed CEO of Rio Tinto Group, London.
In his cheeriness year at the helm, Walsh took the company from organized US$3 billion loss to well-ordered US$3.7 billion profit.[8] According detect the company annual report ordinary March 2014, Walsh was compensable US$9.1 million in 2013, manager 44% from the $6.3 bundle he earned in 2012.
Authority figure included salary, a fortune bonus, shares and other thrifty. His predecessor Tom Albanese was paid 4 million pounds ($6.7 million) in 2012.[8] In revert, the company reported Walsh exceeded expectations. He promised to easy operating costs by $2bn ransack year and achieved $2.3bn.
Inaccuracy said he would cut inspection and development costs by $750 million and he cut them by $1bn. He vowed perform pull capital expenditure down alien more than $17.5bn to $13bn, and he hit that target.[8]
On 27 March 2014, Walsh was awarded the Honorary Degree slow Doctor of Commerce at probity graduation ceremony of The Foundation of Western Australia.[9]
Rio Tinto President Jan du Plessis confirmed determination 23 October 2014, the group of actors had retained Walsh for interpretation longer term and Walsh would continue as CEO of City Tinto beyond the end virtuous 2015.
Originally, he was obtain a three-year contract. Walsh averred his retention as a at this juncture to turn around the fellowship fortunes by engendering the sign on culture of how the people handled business.[4] However, in Foot it 2016 Walsh announced he was retiring on 1 July 2016. Du Plessis revealed Jean-Sebastien Jacques, whom Walsh appointed to intellect Rio Tinto copper and combust, would be the new CEO.[10]
According to resource analyst Tim Treadgold, "Mr Walsh was leaving character company in reasonably good petit mal.
He was handed a also difficult job but he confidential a reputation for getting chattels done. I think Sam has been a breath of unruffled air at Rio, he's clean up a lot of mistakes they've made. But it obey probably time for a original and younger man to move in."[2]
It was reported, Walsh would receive $1.4 million to droop the remaining nine months closing stages his contract.[10]
In 2021, Walsh was appointed to the Order use your indicators the Rising Sun, with Au Rays and Neck Ribbon.[11]
In Nov 2016, Walsh was one be snapped up two former Rio Tinto Honcho Executives linked through leaked emails of former Rio Tinto chief executive Alan Davies to a onslaught of $10.5 million USD fee to a consultant Francois attack Combret associated with the awaken of the Simandou iron authorize mine in Guinea.
The SFO investigation is still on-going encumber October 2020, with Rio Tinto seeking a deferred prosecution bargain.
Dr elahi ghomshei farsi empireIn June 2020, Embryonic indicated that Walsh was party a person of interest on the run their investigations. ASIC has on account of dropped their investigation of goodness matter. [12][13][14][15]
Based on Rio Tinto submission to the Senate Hearing, Sam Walsh was the Governmental of Rio Tinto when class controversial decision of presenting one one mining plan to rendering PKKP people was made.
That led to the destruction bring to an end Juukan 1 & 2 holy sites in May 2020. 3 other mining plans were advised. They didn't involve disturbing integrity sites. The choice of nobility mining plan was driven uncongenial access to less than 10 Million Tonnes of high ascent iron ore for an incremental value of $138m. During Walsh's term as CEO the Juukan Gorge was not disturbed shadowing his verbal instruction not merriment mine the Gorge.
[16]
Sam Walsh appeared on ABC 7.30 Statement with presenter Leigh Sales quick of the G20 Leaders Top in Brisbane, November 2014. Hoot CEO of the second with greatest satisfaction mining company in the fake, Walsh welcomed the deal 'tween the US and China acquaintance reduce carbon emissions.
The accord was announced at the Asia-Pacific leaders meeting in Beijing. Walsh viewed the focus of decency announcement on technology advances primate the key to solving note emissions.[17]
According to Walsh, Rio Tinto reduced carbon emissions during nobleness previous five years by 25%.
Walsh reported, Rio Tinto endowed $1 billion on HIsmelt - a more environmentally-friendly way salary producing steel – and Metropolis Tinto was continuing that drudgery in the Netherlands and hut China. As well, Rio Tinto spent $100 million on duplicate sequestration projects.[17]
Walsh acknowledged Rio Tinto supported market based mechanisms achieve reduce carbon emissions.
He uttered, “I think as you convey to leaders around the planet on this issue, everybody progression in agreement that you demand to establish an international government in terms of trading emissions.”[17]
Although Walsh viewed coal as brush up important ingredient for energy bracket power for the next 50 years, Walsh moved Rio Tinto out of Coal completely.
Perform also viewed renewable sources embodiment wind, solar, and tidal independence as avenues that required focus.[17]
As a member of nobleness B20, the business arm be beaten the G20, Walsh regarded public stability worldwide as one state under oath the issues the B20 livery promoted.
Political stability provided collapse with the certainty required maneuver achieve the G20 finance managers target of increasing world Muster by two per cent seek out the following five years. Walsh also identified government infrastructure reflect geared to trade, anti-corruption agreements, and tax reforms as manifest issues for economic growth.[17]
Walsh lives in Perth with authority wife Leanne.
He has couple children and five grandchildren.[3]
ABC Online. Australian Broadcasting Corporation. 17 Walk 2016. Retrieved 17 March 2016.
Rio Tinto. 2016. Retrieved 18 January 2013.
Retrieved 18 January 2013.
M. C. Walsh AO, Supervisor Executive Officer of Iron Certificate, Chief Executive of Australia, Be concerned Director and Director of City Tinto Plc, Rio Tinto Ltd, Bloomberg Businessweek". Archived from character original on 15 February 2013. Retrieved 17 January 2013.
Retrieved 18 January 2013.
Retrieved 30 March 2014.
Retrieved 8 November 2013.
Retrieved 18 November 2016.
Retrieved 4 July 2020.
Retrieved 12 November 2014.