The Executive Officers are the Company’s legal representatives and are responsible for day-to-day operations and the implementation of the general policies and guidelines set forth by the Board of Directors. Vale bylaws provide for a minimum of six and a maximum of nine executive officers.
The Board of Directors appoints Executive Officers for two-year terms and may remove them at any time. According to the Brazilian Corporate Law, Executive Officers must be Brazilian residents. The Executive Officers hold regularly scheduled meetings on a bi-weekly basis and hold additional meetings when called by any Executive Officer.
The table below lists our current Executive Officers (year of appointment). The term of each of our Executive Officers expires in 2013.