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Rio Tinto, the world's second-largest mining company, said its recent decision to integrate and relocate its sales and marketing teams from London and other European countries to Frankfurt, Germany, was driven by synergies rather than Brexit plans
.
CEO Jean-Sébastien Jacques said in an interview that the plan is part of a broader restructuring that began in February and includes setting up three global hubs
for the company.
Rio Tinto's leaders did not comment on how the Brexit process affected the move, instead citing marketing and business synergies as the main reason
for the move to Frankfurt in September.
Jacques has repeatedly said he has no plans to move the group's headquarters out of the UK or no longer set up an office in Melbourne, Australia, and that all of his actions are focused on improving productivity and controlling costs
.
That's partly because Rio Tinto's profits hit a three-year high in 2017, allowing it to pay a record dividend
.
This is Jacques' first annual report
in July 2016, succeeding former boss Sam Walsh.
Rio Tinto, the world's second-largest mining company, said its recent decision to integrate and relocate its sales and marketing teams from London and other European countries to Frankfurt, Germany, was driven by synergies rather than Brexit plans
.
CEO Jean-Sébastien Jacques said in an interview that the plan is part of a broader restructuring that began in February and includes setting up three global hubs
for the company.
Rio Tinto's leaders did not comment on how the Brexit process affected the move, instead citing marketing and business synergies as the main reason
for the move to Frankfurt in September.
Jacques has repeatedly said he has no plans to move the group's headquarters out of the UK or no longer set up an office in Melbourne, Australia, and that all of his actions are focused on improving productivity and controlling costs
.
That's partly because Rio Tinto's profits hit a three-year high in 2017, allowing it to pay a record dividend
.
This is Jacques' first annual report
in July 2016, succeeding former boss Sam Walsh.
