Rio Tinto on Tuesday named Simon Trott, the head of its iron ore division, as its new chief executive officer, replacing Jakob Stausholm, who announced his intention to step down in May. Trott, a more than 20-year veteran at the world's biggest iron ore miner,

Rio Tinto Group has named the head of its iron ore unit Simon Trott as its new chief executive officer, replacing the outgoing Jakob Stausholm.

The head of Rio Tinto’s lucrative iron-ore business will succeed Jakob Stausholm as chief executive next month, the company said Tuesday.