Rio Tinto’s (NYSE: RIO; LSE: RIO) top bosses will pay millions of dollars for the destruction of two ancient caves in Australia as the group has decided to cut short-term bonuses of some senior executives following an internal review.
Chief executive Jean-Sébastien Jacques will lose almost US$5 million (£3.7 million) in bonuses and the head of the iron ore business, Chris Salisbury, will see his bonus trimmed by at least US$1 million, according to an internal report released today.
Other managers, not at executive level, might also lose their bonuses, the document says. The board’s non-executive directors also agreed to donate 10% of their 2020 director fees to the Clontarf Foundation, a non-Aboriginal organization that supports Aboriginal education and employment.
Continue reading at www.northernminer.com.