Vale Board of Directors sets general guidelines and policies for the Company’s business and monitors the implementation of those guidelines and policies by the Company’s executive officers. The Board of Directors holds regularly scheduled meetings on a monthly basis and holds additional meetings when called by its chairman, vice-chairman or any two directors. Decisions of the Board of Directors require a quorum of a majority of the directors and are taken by majority vote.
Under the Brazilian Corporate Law, the Board of Directors must have at least three members. Each director and his or her respective alternate are elected at a general shareholders’ meeting and are subject to removal at any time. Vale bylaws state that the Board of Directors must consist of eleven members and eleven alternates. Vale current employees have the right to appoint one director and an alternate.
Under the Brazilian Corporate Law, members of the Board of Directors must be shareholders of Vale. Members of the Board of Directors are elected for two-year terms and can be re-elected. Each alternate director serves on behalf of a specific board member. In the absence of the director for whom an alternate director is acting, that alternate director may attend and vote at meetings of the board of directors.
The table below lists the current members of the board of directors. All of our directors were elected or re-elected, as the case may be, in 2011, and their terms will expire in 2013.
MEMBERS (first year of appointment)
- Ricardo José da Costa Flores (2010)
Mário da Silveira Teixeira Júnior (2003)
José Ricardo Sasseron (2007)
Robson Rocha (2011)
Nelson Henrique Barbosa Filho (2011)
Renato da Cruz Gomes (2001)
Fuminobu Kawashima (2011)
Oscar Augusto de Camargo Filho (2003)
Luciano Galvão Coutinho (2007)
Paulo Soares de Souza (2011)
José Mauro Mettrau Carneiro da Cunha (2010)
ALTERNATE (first year of appointment)
Marco Geovanne Tobias da Silva (2011)
João Moisés de Oliveira (2000)
Deli Soares Pereira (2009)
Sandro Kohler Marcondes (2011)
Eustáquio Wagner Guimarães Gomes (2011)
Luiz Carlos de Freitas (2007)
Hajime Tonoki (2009)
Eduardo de Oliveira Rodrigues Filho (2011)
Paulo Sergio Moreira da Fonseca (2008)
Raimundo Nonato Alves Amorim (2009)
Vacant