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Rio Tinto blew up a sacred site in Australia. The CEO left but still got a huge payout

February 22, 2021. Summarized by summa-bot.

Compression ratio: 62%. 1 min read.

Jean-Sebastien Jacques, chief executive officer of Rio Tinto Ltd., poses for a photograph ahead of presenting the company's full-year results at the Deutsche Bank AG offices in London, U.K., on Wednesday, Feb. 26, 2020. Iron ore??futures fell as steel inventories surged to a record in China and investors continued to weigh the impact of the coronavirus outbreak. Photographer: Simon Dawson/Bloomberg

Rio Tinto's former CEO got a huge payout last year despite being forced to resign over the company's destruction of a sacred Indigenous site in Australia.

Hong Kong (CNN Business)Rio Tinto's former CEO got a huge payout last year despite being forced to resign over the company's destruction of a sacred Indigenous site in Australia.

Jean-Sébastien Jacques received £13. 3 million ($18. 6 million) in pay and long-term incentive rewards in 2020, compared to £7. 1 million ($9. 9 million) the previous year, according to the company's annual report, which was published on Monday.

The company destroyed the 46,000-year-old Indigenous site last May to expand an iron ore mine.

The company also cut bonuses for Jacques and two other senior executives, worth a combined £3. 8 million ($5 million).

But it didn't immediately fire any executives, which led to more criticism of the company's response.

Chris Salisbury, head of the iron ore business, and Simone Niven, group executive for corporate relations, also left the company at the end of December.

Rio Tinto said in its annual report that in determining the final payout to all three departing executives, "the board fully recognized the gravity of the destruction at Juukan Gorge but was mindful that the three executives did not deliberately cause the events to happen, they did not do anything unlawful, nor did they engage in fraudulent or dishonest behavior or willfully neglect their duties. "

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