Who is he?

Sam Walsh is a well-known figure in the Australian mining industry. Walsh joined Rio Tinto, an Australian-British multinational mining company, in 1991 and was appointed director in 2009. Before joining Rio Tinto, Walsh spent 20 years working in the Australian automotive industry at General Motors and Nissan.

Why is he in the news?

Sam Walsh was named Chief Executive Officer of Rio Tinto on January 17 after the resignation of Tom Albanese. Under Albanese’s leadership, Rio Tinto announced a $14.5 billion loss in its recently purchased Canadian aluminum and Mozambique coal assets.

What can we expect from him?

Walsh is well known for his expertise in iron ore and is credited in building Rio Tinto’s presence in the Pilbara region of Western Australia, turning the company into the world’s second largest iron ore producer. Despite the dramatic fall of commodity prices in 2012, iron ore prices bounced back in the start of 2013 due to increased Chinese demand and a reduction in Brazilian and Indian iron ore exports, reducing global supply.

In light of this positive but potentially volatile outlook, Rio Tinto’s appointment of Sam Walsh, who is likely to sharpen the company’s focus on iron ore, demonstrates its confidence that the commodity will remain a key asset in the Asia-Pacific.