Rio Tinto chairman Jan du Plessis will retire from his post, ending a term of more than eight years at the head of the Anglo-Australian miner, to become chairman of UK telco giant BT Group.
Mr du Plessis confirmed in a statement on Thursday that he will retire as Rio Tinto chairman no later than the company's 2018 annual general meeting.
The South African-born corporate veteran joined Rio's board in 2008 and stepped in as chairman the next year.
He has steered the company through a turbulent period that has involved repairing its balance sheet, as well as a boom and bust in the commodities cycle over the last few years.
When Rio installed Jean-Sebastien Jacques as its new chief executive in 2016, Mr du Plessis committed to the board that he would continue in the role for another two years.
"Today's announcement is the next step in that plan," he said in a statement.
"I remain committed to leading the board until I stand down, supporting the management team and ensuring an orderly handover to my successor."
Rio's senior independent director John Varley is leading the process to select a new chairman, with an appointment expected before the end of 2017.
Mr du Plessis' retirement means two of the world's largest miners will soon undergo significant changes at board level, after BHP Billiton chairman Jac Nasser announced his impending departure in October.
Mr Nasser will not seek re-election at the company's next annual general meeting and BHP has launched a global search for a replacement.
Mr du Plessis' announcement comes at a time when Rio is entangled in a payments scandal related to the Simandou iron ore project in West Africa, that has resulted in the dismissal of two top executives and the withholding of performance-related pay due to previous chief executive Sam Walsh for at least two years.
Mr du Plessis had taken charge of the internal investigations into the matter in recent months.
The company also faces investigations in the US, UK and Australia over the alleged bribe payment in 2011.
Rio, the world's second largest iron ore exporter, bounced back to profitability in 2016 after booking a $US866 million annual loss in 2015 that forced it to end its generous dividend policy.
The miner has outlined sharp cuts in capital expenditure and operating costs over the past three years, including freezing employee salaries in 2016, in an effort to ride through a prolonged slump in commodities prices.
Mr du Plessis has previously served as chairman of British American Tobacco, chairman of drinks giant SABMiller Plc and non-executive director of Marks and Spencer Group.
Rio Tinto shares dropped two per cent to $60.14 before confirmation of Mr du Plessis' retirement, as resources stocks were sold off due to falls in commodity prices.
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