Rio Tinto's New CEO Targets Cost Cuts and Asset Sales to Simplify Business

Rio Tinto's new CEO, Simon Trott, plans to cut costs and sell assets to simplify the business. The plan involves delivering up to $10 billion in cash proceeds from asset sales and cutting roles. Trott aims to make Rio Tinto the "most valued" metals and mining business by 2026. The company has already taken actions to deliver $650 million in annualized productivity gains, with more targeted.