he will succeed sam walsh.bastien jacques is currently the head of the copper and coal division. andrew witty plans to step down in 2017. the board will begin a search for a successor and a says it will consider internal candidates for the role. he left the company after a 20 year career at the company. finally, toshiba is under investigation by the u.s. over allegations that it hit $1.3 billion in losses at its nuclear power operations. they said he authorities are scrutinizing allegations made in an internal review published last year by the tokyo-based company. shares plunged over 8% in tokyo. toshiba declined to comment. guy: i want to show you what is happening with the price of crude this morning. this is purely fed and dollar related. crude is spiking this morning. we are up 2.3%. up 2.83%.t is let's look him the stocks we need to pay attention to this morning with nejra cehic. nejra: i am starting with rio tinto. this of course, is one of the biggest gainers on the stock 600 today, pulling up other mini

early on we got news about sam walsh in the mining sector.me in an hour to use that function. management ifder you were to see how they perform, this is the function. andrew was in the hot seat or has been in the hot seat for 7.8 years. he stepped up on the 21st of may, 2008. he delivered a 9.13% return which scoops up all of the dividend pay as well and his or her group has delivered 1225% return. you begin to understand where we are with glaxo. going back to 2008 when he actually stepped up into the seat -- there you go. in terms of stock prices around 10.68%. >> talking but his normal thirty-year service in the group saying they are focusing on the executive search based on executing this strategy to drive growth and performance. marketheck on the asian action. >> a great day in asia with the .xception of japanese equities appetite risk on following comments from the fed. we seen some great ones coming through across the market today. the fifth prevention of gains and we have seen from chinese stocks. here in hong kong as well. the new zea

sam walsh will be stepping down in 2017. ♪ guy:, welcome back, eight minutes into the market opens. > starting with the world's biggest cement maker. this company lost more than 40% of its values. i tracked that sinking stock price right here. today we had earnings in the fall and profit but that adjusted number did beat so i am getting mixed calls from analysts. it will be interesting to see how those stocks prices compare at the open. i am also looking at rio tinto. you can see that they had a little bit of a recovery. but they've appointed a new ceo. we are talking about jean sebastian zach. storyet's pick up on that and talk about what is happening with rio. to bloomberg news editor will kelly. this came a little bit out of the blue. i think in the wider context it is not a huge surprise. is 66 years old now and it is about time for him to move on. guy: what has he done? >> he has relentlessly focused on costs. shapeook in much better and many ways. guy: he has outperformed his sector peers. absolute terms of has been her rent this in relative terms he has done a very good job. he

sam walsh took over after the ceo had to resign.e is 66 years old now and said he did not want to do the job for more than three years now. it's about time for him to move on. i suspect he feels he has done what he needs to do. mark: what has he done? >> he has relentlessly focused on costs. it looks in much better shape. mark: he has outperformed his sector peers. >> absolutely. in relative terms, he has been a -- done a very good job if you look at the share prices. he has outperformed hp, glencore. what is interesting about the new guy, he is the copperhead. oreis very much an iron company. does this signal a shift to more copper? ♪ alix: you are watching "bloomberg best." i'm alix steel. for the third consecutive week, multiple u.s. state health -- states held presidential primaries. on wednesday, president obama unveiled his nomination to fulfill the supreme court vacancy and combine that with regional elections in germany, budget day in the u k, and the close of the national people's congress in china, it all adds up into an e

when you talk to sam walsh was leaving rio, he thinks there's nothing wrong. great, -- manus: why does he say that in the rest of us is something else? kenneth: sam thinks we're in fantasyland. your -- eightis going to say that it was a great day? i have it on the show to prove it. thank you very much. on for bloomberg intelligence. swiss stocks of the biggest loser in the quarter? ♪ hans: welcome back to "on the move," let's get to our chart of the hour. nejra: i am looking at swiss stocks. really, it is underperforming so for this quarter. even the living lowest valuations and more than a year relative to global shares they aren't tempting investors back to swiss equities. the swiss market index versus index, thes world index is the white line underperforming there. it is actually that gauge has tumbled almost twice as much as the stoxx 600 so far this quarter. know what the stoxx 600 has denver's in the s&p 500 already. the purple line at the bottom you can see the estimated pe versus the global index. even though we have both low valuations, it is so under