Rio Tinto PLC (RTP) Chairman Jan du Plessis said Friday the Anglo-Australian miner's chief executive retained the board of directors' full support after the company reversed course on a strategic tie-up with Aluminum Corp. of China, or Chinalco.

"Tom is a great chief executive," du Plessis said of Tom Albanese.

Some analysts and investors have questioned Albanese's future at the company after a series of apparent missteps, including the purchase of Canadian aluminum producer Alcan at peak-market prices in 2007 and support for the Chinalco deal, which was deeply unpopular with some investors.

Robert Talbut, chief investment officer at Rio shareholder Royal London Asset Management, said investors and company directors will need time to reflect on Albanese's future.

"It is possible the chairman may decide some change is required," Talbut said.

"You employ chief executives to make big calls and generally on big calls chief executive reputations are made," he added.

Liberum Capital analyst Michael Rawlinson said Albanese's job appeared safe.

"We see Tom as a capable operator who can run a steady state Rio well. It remains to be seen if the Rio shareholder base will be as forgiving," Rawlinson said.

Albanese, 51, joined Rio Tinto in 1993 and became company chief executive in May 2007.

Soon afterwards, the miner tookon $40 billion in debt to fund the Alcan purchase. Albanese also led the company's defense against a hostile takeover bid from rival BHP Billiton Ltd. (BHP) through 2008, calling its offer too low.

But by the end of 2008, BHP withdrew its offer, the Alcan-related debt weighed on the company's balance sheet and Rio shares had tumbled more than 80% from a May peak.

Rio turned to Chinalco for a $19.5 billion funding package in February so it could meet debt obligations. Albanese called the deal a "pioneering strategic partnership."

But after months defending the deal, the miner this week dumped Chinalco in favor of a rights issue and a joint venture with BHP.

Du Plessis said he preferred not to use hindsight judgements, but to move the miner forward. Albanese is the person to do that, he added.

"I absolutely don't need a new chief executive," du Plessis said.

Some observers say Rio Tinto's chief executive for iron ore, Sam Walsh, is a potential heir-apparent. Walsh, 59, was appointed to the company's board of directors Friday.

"He is well respected internally having grown iron ore to be Rio's most important division," Rawlinson said. "The conspiracy theorists will have it that he is now the CEO elect, with Tom Albanese heading for the exit at some stage."

Company Web site: www.riotinto.com

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com