Vale announces that, after a meeting held on April 4, Valepar’s controlling shareholders (Litel, Bradespar, BNDESpar, Mitsui and Elétron) have named Murilo Pinto de Oliveira Ferreira for the position of CEO of Vale, as of May 22, 2011, after the current CEO Roger Agnelli’s mandate ends. Ferreira’s nomination needs to be approved by Vale’s board of directors at a meeting to be called in due course.
Mr. Ferreira, 58, has more than 30 years of experience in the mining industry. He joined Vale in 1998 as the director of Vale’s aluminum business, Aluvale, and occupied various executive positions until his departure in 2008, when he was the president of Vale Inco (now Vale Canada) and executive director for nickel and base metal sales. He has an undergraduate degree in Company Administration from FGV-São Paulo, a postgraduate diploma in Administration and Finance from FGV-Rio de Janeiro and a specialist diploma in M&A from IMD Business School, Lausanne, Switzerland.
Mr. Ferreira was selected by Valepar’s controlling shareholders from a shortlist of three candidates drawn up by an international executive recruitment company, in accordance with Valepar’s by-laws.
Valepar’s shareholders take this opportunity to reiterate their appreciation of Roger Agnelli for his success in running Vale in recent years, helping the company to reach the prominent position it now enjoys in Brazil and abroad.