Rio Tinto’s chief executive Jakob Stausholm will step down after more than four years leading the FTSE 100 mining giant, it has been announced. The London-listed firm said a “rigorous selection process” had already begun,

Mining giant Rio Tinto has announced chief executive Jakob Stausholm will step down, more than four years since he took over following global criticism of the company for its destruction of ancient rock shelters in WA.

Investors said the iron ore major should not look for a “big personality” as the company considered who would replace the businessman later this year.