Rio Tinto Group plans to further delay paying outstanding bonuses to its former chief executive officer as regulators continue investigating payments to a consultant on an iron-ore project in Guinea.
In 2017, the company said it would postpone any short- and long-term incentives owed to Sam Walsh for a minimum of two years. Rio is now planning to extend that time period.
Walsh retired as CEO in July 2016, months before Rio announced that it alerted authorities, including the U.S. Department of Justice and the U.K.’s Serious Fraud Office, about payments related to the Simandou project. The investigation is centered on a $10.5 million payment to an external consultant in 2011 for assisting on negotiations with Guinea’s President Alpha Conde.
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