RIO Tinto has appointed John Varley, the former chief executive of Barclays, as a non-executive director to its board of directors in the UK and Australia, starting September 1.
Rio doesn't have a system for directly replacing board members but it had been seeking a non-executive director with strong experience in the financial markets ever since David Mayhew and David Clementi both retired from the board in 2010.
Mr Varley's career includes 28 years at UK-listed, global financial services provider Barclays, where he spent six years as chief executive until the end of 2010, and three years as financial director until 2003.
His boardroom experience includes current non-executive directorships at pharmaceutical company AstraZeneca and global asset management firm BlackRock. He remains a senior advisor to Barclays and is a member of the International Advisory Panel of the Monetary Authority of Singapore.
"John Varley is a high-calibre addition to the boards" said Rio Tinto chairman Jan du Plessis. "Quite apart from John's broad-ranging skills and experience in banking and financial markets, his all-round reputation and business judgment will enhance the boards' existing strengths. I very much look forward to his joining."
Mr Varley joined Barclays in 1982 and held various positions aside from CEO and CFO of the group, including chief executive of retail financial services for two years until 2000, and chairman of Barclays' Asset Management Division for three years until 1998.
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