Skip Ribbon Commands
Skip to main content
Untitled 1

Board of Directors and Leadership

Our model of governance aims to establish the principles of clearly-defined roles, transparency and stability that guide our actions.​

The general guidelines and policies that guide our business are established by the Board of Directors, which monitors the implementation of these initiatives through reports from the Executive Directors. The Board receives advice from technical and consulting committees, as follow.​

The Fiscal Council is a permanent functioning body.

Gráfico da Assembléia GeralGráfico da Assembléia Geral

Board activities in 2020

The monitoring of Brumadinho reparation, dam safety, people safety (especially in view of the Covid-19 pandemic), active listening with community representatives, monitoring the implementation of actions and engagement plans, advances in the governance and longterm strategic planning were the themes that dominated the Board’s discussions in 2020. The Board met on 32 occasions during the year, with a 98% participation rate.

The Board acted effectively with the support of the advisory committees and, among other initiatives, the following stand out:

  • Follow-up on the relationship and social dialogue with communities (Brumadinho, Mariana and region)
  • Dedication to the construction of Vale’s purpose, with intense engagement and protagonism
  • Monitoring the company’s innovation strategy, to promote sustainability and adapt to climate change
  • Meetings to discuss the Company’s multi-annual strategic planning
  • Follow-up and support for the Global Settlement for Brumadinho
  • Monitoring developments of the Covid-19 pandemic and safety measures adopted by Vale
  • Approval of corporate transactions seeking to simplify Vale’s operational flows

Learn more about the Board's activities here.

Governance Enhancements

Extraordinary Committees of Support and Reparation and Investigation delivered their final reports, which are available on Vale’s Investor Relations website.
Continuity of the Dams Committee until April 2021, when members will join the Independent Tailings Review Board.
Installation of the Statutory Audit Committee, composed of independent and external members, to strengthen risk governance.
Appointment of the Compliance Officer, responsible for supervising the Whistleblower Channel, Internal Audit and Corporate Integrity, and linked to the Board of Directors
Creation of the Nomination Committee, to propose improvements related to the structure, size and competencies of the Board of Directors, given the expiration of Vale’s Shareholders’ Agreement.
Changes to Vale’s Bylaws to, among other issues, provide for more independence on the Board, individual elections and adoption of the Lead Independent Director.


Board of Directors​

Our Board of Directors sets general guidelines and policies for our business and monitors the implementation of those guidelines and policies by our executive officers. Our bylaws provide for a Board of Directors consisting of  a minimum of 11 to 13 members, who will have a unified term of two years, and reelection is allowed.​

The Board of Directors has, on a permanent basis, seven statutory advisory committees. They also count on a non-statutory advisory committee, the Nomination Committee, currently installed:

In 2019, following the Brumadinho dam rupture, Vale’s Board of Directors created Independent Extraordinary Advisory Committees (CIAEs), composed of external, independent, reputable and experienced experts. In 2020, the CIAEs of Investigation and Support and Reparation delivered their final reports and were discontinued, while the CIAE for Dam Safety was continued for another year, being discontinued in April 2021.

Learn more about the Independent Extraordinary Advisory Committees here

Board independence​

New listing rules applicable to independence requirements for the Novo Mercado came into force in January​ 2018. In addition to the Novo Mercado listing rules and we have sought to define that the majority of board members must be independent directors, and our bylaws state that at least seven of our directors must be independent.

We currently have eight independent members. To be considered independent under our bylaws and the Novo​ Mercado listing rules in effect in 2018, a director may not:​

For more information about Vale’s board, access the Board of Directors' Internal Regulation

Board Profile

Get to know who is part of Vale's Board of Directors and their main experiences and qualifications.​

As of April, 2021

José Luciano Duarte Penido

Chairman

Education: Degree in Mining Engineering from the Engineering School of the Universidade Federal de Minas Gerais (December 1971).


  • Chairman of the Board od Directors since May 2021.
  • Member of the Sustainability Committee since May 2021
  • Member of the People, Compensation and Governance Committee ( since May 2021).
  • Coordinator of the Sustainability Committee (from May 2019 to April 2021).
  • Member of the Operational Excellence and Risk Committee(from May 2019 to April 2021).

Other current experiences

  • Independent Member of the Board of Directors of Copersucar (since 2013).
  • Independent Member of the Boards of Directors of the companies Algar SA. (since 2016).
  • Member of Coalizão Brasil Clima Florestas e Agricultura.
  • Member of the Board of Trustees of the NGO Rede Cidadã.
Experience as a CEO
Institutional Relations
Knowledge of Vale
Risk and Safety Management
Talents & Cultural Transformation
Sustainability & ESG
Mining
Steel Industry

Past experiences

  • Chairman of the Board of Directors of Fibria Celulose (2009 to 2018).
  • Member of the Board of Directors of Banco Santander Brasil (2017 to 2019).
  • Independent Member of Química Amparo Ypê (2013 to 2019).
  • CEO of VCP - Votorantim Papel e Celulose (2004 to 2008).
  • CEO of Samarco Mineração (1992 to 2003).
  • Member of the Deliberative Board of Instituto Ethos.
  • Member of the Board of Trustees of FDC - Fundação Dom Cabral.
  • Member of the Executive Committee of the World Business Council for Sustainable Development (WBCSD).
  • Chairman of the Deliberative Board of IBÁ - Indústria Brasileira de Árvores

Other relevant information:

33 years of experience in Mining and Steel (iron ore and manganese), in mineral research activities, mining operations and in iron ore processing, engineering and implementation of industrial projects for mining and pelletizing projects15 years of experience in Planted Forests, Pulp and Paper industries. Corporate Governance and Senior Management of companies from different sectors, acting as CEO and Chairman for the the past 27 years. Long professional history in Sustainability and ESG, with a leading role in Brazil and internationally, in socioenvironmental management of territories, relationship with stakeholders (communities and NGOs), mitigation and adaptation to climate change, especially in relation to Forests and Agriculture.

Fernando Jorge Buso Gomes

Vice Chairman

Education: Degree in Economic Sciences, Faculdades Integradas Bennet (1979).

  • Vice-Chairman of the Board of Directors of Vale S.A. (since January 2017) and Director (since April 2015).
  • Member of the Financial Committee (since May 2021) .
  • Member of the People, Compensation and Governance Committee (since May 2021).
  • Coordinator of the Financial Committee (since December 2019 to April 2021).
  • Coordinator of the People, Remuneration and Governance Committee (since May 2019 to April 2021).

Other current experiences

  • Bradespar S.A.: CEO and Investor Relations Officer (since April 2015).
  • Officer of Millennium Security Holdings Corp.,Holding Company (since October 2015).

Experience as a CEO
Institutional Relations
Knowledge of Vale
Talents Cultural Transformation
Sustainability ESG
Finance

Past experiences:

Vale S.A.:

  • Coordinator of the Governance and Sustainability Committee (2015 to 2017) and the Sustainability Committee (2017 to 2019).
  • Member of the Financial (since 2015), Executive Development (2015 to 2017), Strategic (2017) and People (2017 to 2019) Committees.
  • Vice-Chairman Board of Directors of Bradespar S.A. (2014 to 2019).
  • 2B Capital (2014 to 2018): Board Member, Chief Executive Officer and Officer
  • Chairman of Antares Holdings Ltda., a holding company (2015 to 2017)
  • President of Brumado Holdings Ltda. (April 2015 - April 2017).
  • Member of the Board of Directors: CPFL Renováveis, Sete Brasil, BR Towers, Grupo SMR, Brennad Cimentos.
  • Member of the Investment Committee of the Probes Participação Investment Fund (2011 to 2015).
  • Grupo Bradesco: Head of Private Equity, Bradesco BBI Officer, Investment Banking, Departmental Officer.
  • Capital Market Officer of Banco BBV.
  • Chase Manhattan Bank: Corporate Finance, Merchant Banking and Capital Markets, among others (1978 to 1997).

Other relevant information:

More than 40 years of experience in Complex Financial Strategies Planning, Merger and Acquisition of Companies, Capital Markets, Relation with Shareholders and Stakeholders, Team Training and Management, Performance of Boards of Directors and Business Strategy, in Brazilian and international companies.

José Mauricio Pereira Coelho


Education: Specialization in Governance (2004, FGV RJ). MBA in Finance and Capital Markets (1999, FGV-RJ).

Degree in Accounting Sciences (1990, UNIGRANRIO).





  • Coordinator of the Finance Committee (since May 2021).
  • Chairman of the Board od Directors (from May 2019 to April 2021).
  • Member of the People, Compensation and Governance Committee (from May 2019 to April 2021).
  • Member of the Nomination Committee (from July 2020 to April 2021).

Other current experiences

  • Chairman of Previ - Banco do Brasil Employees’ Pension Fund (since July 2018).
  • Chairman of the Board of Governors of Abrapp (since September 2018).
  • Member of the Board (since 2015) and Audit and Risk Committee of Ultrapar Participações (since 2019).
Experience as a CEO
Institutional Relations
Knowledge of Vale
Sustainability & ESG
Finance

Past experiences:

  • CEO of BB Seguridade Participações S.A. (2017 to 2018).
  • Banco do Brasil S.A.:
  • Chief Financial Officer and Investor Relations Officer (2015 a 2017).
  • Chief Financial Officer (2012-2015).
  • Capital Markets Officer (2009 to 2012).
  • Executive Manager, Income Security (Gestão Seguridade) (2007 to 2009).
  • Cielo S.A – Board of Directors.
  • IRB Brasil RE - Board of Directors.
  • BB Mapfre SH1 Participações S.A. - Board of Directors.
  • Mapfre BB SH2 Participações S.A.- Board of Directors.
  • CNSeg - Board of Directors.
  • Fenaseg - Board of Directors.
  • BB AG-BB Aktiengesellschaft Viena - Board of Directors.
  • BB Securities LLC (New York) - Board of Directors.
  • BB Securities Asia Pte. Ltda. (Singapura) - Board of Directors.
  • BB Securities Limited (London) - Board of Directors.
  • Cosern – Cia Energética do RN - Board of Directors.
  • Celpe – Cia Energética de Pernambuco - Board of Directors.
  • Coelba – Cia de Eletricidade da Bahia - Board of Directors.

Other relevant information:

Experience and technical knowledge in Corporate Finance and Investor Relations. Notable experience in Governance, Strategic Planning and Mergers Acquisitions. Chairman of Previ, implementing actions focused on improving the management and promoting practices under the Previ Code of Corporate Governance. Extensive experience in the boards of directors of companies listed in the Novo Mercado segment of B3. Member of the board of four B3- listed companies.

Eduardo de Oliveira Rodrigues Filho


Education: Degree in Civil Engineering, PUC-Rio (1978).
Specialization in Transport Planning, University of Westminster (2000).

  • Member of the Board of Directors of Vale S.A. (since May 2019).
  • Member of Vale’s Operational Excellence and Risk Committee (since May 2021).
  • Member of Sustainability Committee (since May 2021)
  • Coordinator of Vale’s Operational Excellence and Risk Committee ( since May 2021 to April 2021).

Other current experiences:

  • Managing Partner of CWH Consultoria Empresarial (since 2008).

Knowledge of Business in Asia
Institutional Relations
Knowledge of Vale
Commercial and Trading
Mining
Steel Industry
Global Supply Chain Logistics

Past experiences:

  • Vale S.A.: Alternate member of the Board of Directors (2008 to 2018) and Member of the Financial and Sustainability Committees.
  • Commercial Officer of Rio Tinto Brasil (1994 to 2007).
  • Commercial Manager - MBR - Minerações Brasileiras Reunidas S.A. (1985 to 1994)

Other relevant information:

33 years of experience in mining, with national and international experience in strategy, negotiation and logistics, mainly in the area of iron ore and also in nickel. Ability to manage conflicts, good understanding of finance, corporate governance, institutional relations and communication.

Ken Yasuhara


Education: Degree in Policy Management, Keio University, Japan (2001).

  • Member of the Board of Directors (since May 2021).
  • Member of Inovation Committee (since May 2021).
  • Alternate Member of the Board of Directors of Vale S.A. (from December 2019 to April 2021)

Other current experiences:

  • Officer, General Manager, Mineral and Metals Resources Unit at Mitsui Co. Brazil (since 2019).

Knowledge of Business in Asia
Knowledge of Vale
Risk and Safety Management
Management of Operations
Commercial and Trading
Steel Industry

Past experiences:

  • Mitsui Co.:
    • Officer, Assistant General Manager, Mineral Resources and Metals Unit, Brazil (2018 to 2019).
  • Sumitomo Corp:
    • Manager,Steel Production Raw Material division,Tokyo, Japan (2014 to 2015).
    • Officer, Mineral Resources, Energy and Steel Unit of Sumitomo Brasil S.A. (2013 a 2014).
    • Officer, Mineral Resources, Energy and Steel Division of Sumitomo Brasil S.A. (2010 a 2013).
    • Manager, Raw Material Division for Steel Production, Tokyo, Japan (2008 a 2010).
    • Manager, Raw Material Division for Steel Production, Tokyo, Japan, South Africa (2006 a 2008).
    • Manager, Raw Material Division for Steel Production, Tokyo, Japan (2001 a 2006).
  • Alumina do Norte Do Brasil S.A. (2018 a 2019):
    • Alternate Board Member.
    • Finance Committee Member.
    • Technical Committee Member.

Other relevant information:

More than 20 years of experience in the mining sector, in two of japan's largest multinational conglomerates, Sumitomo and Mitsui. Strong experience in the areas of Mining Operations and Investments, as well as knowledge in Global Commodity Trading (iron ore, iron-alloy, etc.), Finance and Accounting.

Lucio Azevedo

Academic Background: Mr. Lucio Azevedo has incomplete High School

Communication
Operational/Industrial
Logistics
People

He is a Member of the Board of Directors of Vale (since April 2015) and Employee of Vale S.A. (since 1985), holding the position of train driver, assigned to the Union of Workers in Railway Companies of the States of Maranhão, Pará and Tocantins.


Professional experience over the last five years

Chairman of the Union of Workers in Railway Companies of the States of Maranhão, Pará and Tocantins (since 2013), class entity.

Mauro Gentile Rodrigues da Cunha

He graduated in Economics from the Pontifical Catholic University of Rio de Janeiro and holds an MBA from the University of Chicago.

  • Independent Member of Vale’s Board of Directors (since May 2021).
  • Independent Member and Independent Interim Coordinator of the Audit Committee(since May 2021).
  • Independent Coordinator of the People, Compensation and Governance Committee (since May 2021).

Current experience

  • Member of the Board of Directors of brMalls, shopping center manager (since April 2016), where he also holds the position of Chairman of the Audit and Risk Committee;
  • Member of the Board of Directors of Totvs, in the software development sector (since April 2016), where he also holds the positions of Member of the Audit Committee and the People and Compensation Committee;
  • Member of the Board of Directors of Klabin, a paper producer and exporter (since April 2019);

Governance
Finance

Past experiences:

  • Chairman of the Board of Directors of Caixa Econômica Federal (between March 2019 and October 2020);
  • President of AMEC - Association of Investors in the Capital Markets (between March 2012 and August 2019);
  • Member of the Board of Directors of Eletrobras, a publicly traded company in the electricity sector (between March 2018 and March 2021) and also chaired the Statutory Audit Committee (between May 2018 and March 2021);
  • Member of the Board of Directors of Mahle Metal Leve, a publicly-held company that operates in the auto parts sector (between April 2015 and June 2017);
  • Member of the Board of Directors of Cia Energética of the State of São Paulo (between April 2013 and April 2017).
  • Independent Member of the Board of Directors of Petrobras (between 2013 and 2015).
  • Chairman of the Board of Directors of IBGC, a non-profit organization focused on the development of best corporate governance practices in Brazil (between 2008 and 2009).

Marcelo Gasparino da Silva

Higher Education: Degree in Law from Universidade Federal de Santa Catarina – UFSC, in 1995, and specialized degree in Tax Administration from Fundação ESAG – ÚNICA, in 2000.


  • Independent member of the Board of Directors (since April, 2020).
  • Member of the Operational Excellence and Risk Committee (since May 2021).
  • Coordinator of Vale's Sustainability Committee (since May 2021).
  • Member of the Sustainability Committee (from July, 2020 and April, 2021).
  • Independent and alternate member of the Board of Directors ( between May 2019 and April 2020).
  • Alternate member of the Board of Directors (between May, 2016 and April, 2017).



Skills, Knowledge and Expertise

Mining / Operations  
Logistics
Corporate Governance 
Risk Management Expertise
Strategy and Innovation

Current experience

  • Member of the Board of Directors of Companhia Energética de Minas Gerais – CEMIG (since 2019).
  • Professor at Fundação ENÁ - school of Government for the certification of administrators of state-owned companies and mixed-capital companies.

Past experience

  • Member of Fiscal Council of Petróleo do Brasileiro S.A. – Petrobras (April 2017 – April 2018 and April 2018 - April 2021).
  • Member of the Board of Directors of Centrais Elétricas Brasileiras de Santa Catarina – CELESC, (April 2018 – April 2019); 
  • Member of the Board ofDirectors (from April 2017 to January 2020) of Kepler Weber SA.
  • Member of the Board of Directors of Battistella S.A, (April 2016 – April 2017).
  • Member of the Board of Directors of Eletrobras (April 2016 – April 2017).
  • Independent Member of the Boards of Directors of AES Eletropaulo (April 2016 – April 2018);
  • Member of the Board of Directors of Usiminas, (April 2015 – April 2016);
  • Member of the Board of Directors of Bradespar, (April 2015 – April 2016).

Murilo Cesar Lemos dos Santos Passos

Education:Degree in Chemical Engineering from Universidade Federal do Rio de Janeiro (1971).


  • Member of the Board of Directors of Vale S.A. (since December 2019)
  • Member of the Financial Committee (since December 2019).
  • Boards of Directors of other publicly-traded companies:
    • Chairman of the Board of Directors of São Martinho S.A. and Tegma Gestão e Logística S.A.
    • Member of the Board of Directors of Odontoprev S.A.
    • Member of the Board of Directors of Suzano Holding S.A. (from October 2018 to April 2021).

Experience as CEO
Institutional Relations
Knowledge on Vale
Operations Management
Talents Cultural Transformation
Commercial and Trading
Mining

Past experiences

  • Member of the Management Committee of Suzano Holding S.A.
  • Chairman of the Board of Directors of CCR.
  • Chairman of the Board of Directors of CPFL Energia.
  • Member of Camil and Brasil Agro’s Board of Directors.
  • Managing Officer Director of Suzano Papel e Celulose S.A.
  • Managing Officer of Bahia Sul Celulose S.A.
  • CEO of Celulose Nipo Brasileira
  • S.A. – Cenibra and Florestas Rio Doce S.A.
  • Vale S.A.: Environment, Metallurgy and Forest Products Area (1970-1990)
  • Member of the Boards of: 
    • Florestas Rio Doce S.A
    • Alunorte – Alumina do Norte Brasil S.A.
    • Aluvale - Vale do Rio Doce Alumínio S.A.
    • Itabira Internacional Co. Ltda.
    • Bahia Sul Celulose S.A.
    • Mineração Rio do Norte S.A.
    • Rio Capim Química S.A.
    • Usiminas S.A.
    • Companhia Siderúrgica de Tubarão.

Other relevant information

Executive with more than 40 years of experience in the Mining, Pulp, Energy and Logistics industries. Member of the Financial Committee (since December 2019). Chairman of the Board of Directors of São Martinho S.A. and Tegma Gestão e Logística S.A. Member of the Board of Directors of Odontoprev S.A. Member of the Board of Directors of Vale S.A. (since December 2019) Boards of Directors of other publicly-traded companies.


Ollie Oliveira


Education: Degree in Accounting and Business Economics (1973).
Specialization in Accounting and Tax (1975), University of Natal- Durban, South Africa).

  • Boards of Directors of other publicly-traded companies:
    • Senior Independent Board member at Polymetal International PLC.
    • Senior Independent Board member at Antofagasta Minerals PLC:
      • Head of the Projects and Audit Committees
      • Nomination Committee member

Knowledge of Business in Asia
Institutional Relations
Business Innovation
Sustainability ESG
Finance
Mining

Past experiences

  • Independent Board member, BlackRock World Mining Trust.
  • Managing Partner of Greengrove Capital LLP.
  • Board Member of Ferrous Resources do Brasil, Dominion
  • Diamond Mines and Gra Diamonds.
  • Executive Ocer of Strategy and Business Development at
  • DeBeers S.A. (1997 to 2008).
  • DeBeers Centenary AG and DeBeers Consolidated Mines Ltd. (1997 to 2001):
    • Head of Corporate Finance.
    • Executive Committee Member.
  • Anglo American Corporation of South Africa Ltd. (1989 to 1997):
    • Financial Manager.
    • Corporate and International Finance.
  • Chief Financial Ocer of Press Corporation (1980 to 1989).
  • Senior Consultant at Touche Ross (1974 to 1980).

Other relevant information:

More than 35 years of executive experience in corporate finance and strategy, mainly in the mining sector, in companies such as Anglo American and De Beers, including experience in Brazil. Recognized independent advisor, having worked on boards of international companies in the industrial sector. Notable experience in Institutional Relations, Finance and Mining. Chartered accountant and Chartered Management Accountant.

Rachel de Oliveira Maia

She holds a bachelor’s degree in accounting from Centro Universitário FMU and earned her MBA at Fundação Getulio Vargas (FGV). Rachel also completed coursework in Negotiation Leadership through the Harvard Business School Executive Education Program and general management training at the University of Victoria in British Colombia,Canada.


Current experience

  • Founder and CEO of RM Consulting, focusing on ESG S and Leadership (since April 2018);
  • Member of the Group of Brazilian Women (since 2020).
  • Member of the Economic and Social Committee of the Development Council (since 2018).

CEO
Finance

Past experiences:

  • CEO of Lacoste S.A. (Brazil), a luxury clothing company (between October 2018 and September 2020);
  • CEO of Pandora Brasil, jewelry industry (between April 2010 and April 2018);
  • Member of the Executive Leadership Group (ELG) Council for the Americas (between January 2013 and March 2018);
  • Member of the Danish Consulate General Council and Member of the Danish Chamber of Commerce (from April 2014 to November 2020);
  • Member of the Committee of the President of the American Chamber of Commerce (between April 2016 and October 2019).
  •  Member of the Institute for the Development of Retail (from 2016 to 2018).
  •  CFO of Tiffany & Co. Brasil, jewelry sector (between July 2002 and October 2009).
  • Senior financial controller at 7-Eleven, a convenience store segment (from 1991 to 1998).
  • Senior Business Controller at Novartis Pharmacy, pharmaceutical sector (between March 1998 and April 2001).

Other relevant information:

She volunteered for 8 years for needy families in many of Brazil's most challenging regions and in the Society of Vincentians (from 1991 to 1999). Rachel recently founded, in December 2018) a non-profit organization, CAPACITA-ME, which trains students and professionals from underprivileged communities in São Paulo.

Roberto da Cunha Castello Branco

Education: He graduated in Economics, holds a PhD in Economics from the Graduate School of Economics (EPGE) of Fundação Getulio Vargas (FGV), and Post-Doctoral Fellow from the University of Chicago. He also has executive training at the Sloan School of Management (MIT), IMD and Chicago Booth School of Business.


Leadership
Strategy
Finance
Governance
Mining

Past experiences:

  • Chairman and member of the Board of Directors of Petrobras (from May 2015 to April 2016 and from January 2019 to April 2021), a publicly traded company in the oil exploration sector;
  • Director of the Center for Studies in Economic Growth and Development at Fundação Getulio Vargas (from August 2014 to December 2018);
  • Member of the Board of Directors of Invepar S.A. (from May 2017 to December 2018), private manager of urban mobility and transportation infrastructure;
  • Member of the Board of Directors of GRU Airport, an airport administrator (between May and December 2018);
  • Member of the CEO Steering Committee of the Oil and Gas Climate Initiative (OGCI) and the US Brazil CEO Forum (from January 2019 to April 2021).

Other relevant information

Elected by Exame magazine in 2021 as one of the 100 business leaders in Brazil with the best reputation, Best CEO of the Latin American Oil and Gas Industry, Latin Finance 2020, Economist of the Year of Minas Gerais in 2019, Mercado Commons magazine.

Roger Allan Downey

Higher Education: Degree in Business Administration from Australian National Business School, with a Master’s Degree in Business Administration from University of Western Australia.


  • Coordinator of the Operational Excellence and Risk Committee (since May 2021).
  • Member of the Innovation Committee (since May 2021).
  • Member of Vale's Operational Excellence and Risk Committee (from January 2020 to April 2021).

Mining / Operations 
International Experience 
Logistics 
Risk Management Expertise
 
Strategy and Innovation
 

Current experience

  • Member of the Board of Directors at Fertimar S.A. - PrimaSea (since October 2018)
  • Member of the Board of Directors at Tupy S.A (since April 2021).

Past experience

  • CEO of Fertimar Mineração e Navegação S.A. - PrimaSea (2019 to 2020).
  • Vale S.A.: Executive Officer, Fertilizers, Coal and Strategy (2012 to 2017), Chairman of Vale Fertilizantes S.A. (2012 to 2017), Strategic Marketing Manager (2002 to 2005).
  • CEO at MMX Mineração e Metálicos SA.
  • Officer of Mining & Steel Analysis  at Credit Suisse.
  • Marketing Manager at Rio Tinto in Australia and Brazil.
  • Market Coordinator of Minerações Brasileiras Reunidas S.A - MBR (1991 to 1996).

Other relevant information

Executive with more than 35 years of experience, in leadership positions in the Mining, Fertilizer and Financial industries, in Brazil and abroad. Notable experience in Investor Relations, Mergers and Acquisitions, Marketing and Sales.

Board of directors selection process​

The Board of Directors, together with the Nomination Committee and specialized international consultancies, have updated the important qualifications and experience that should be represented on the Board as whole, in light of Vale’s business strategy and future needs. Among the elements that were considered in defining the new competence matrix here:

The set of circumstances that reflect Vale’s present and future situation and its opposable challenges;
Key skills consistently observed in other mining companies;
The five levers of action set forth in Vale’s strategy;
The specificities and particularities of Vale’s businesses;
Derivation of the strategy and the vision for the future of Vale’s businesses;
Preservation of the knowledge and history about the company;
Emphasis on the current context, with Vale’s current challenges;
Focus on skills that are relevant for Vale with long-term developments;
Alignment with market expectations;
Adequate characterization of the caliber and level of updating of each of the skills;
Administrative Skills Functional Skills Sectorial Skills
Relevant executive experience as CEO Previous successful experience as CEO of large organizations for a relevant period of time. Risk & Safety Management in industries with risk profile compatible with Vale’s Relevant experience and knowledge in risk and safety management in organizations with risk profile compatible with Vale’s. Mining Relevant experience and knowledge of the mining industry, with preference for the iron ore business.
Extensive knowledge of the current business environment in Asia Relevant experience and knowledge of current business environment in Asia, preferably in Vale’s area of operation and preferably based in China. Operations Management focused on the adoption of global best practices Relevant experience and knowledge in operational excellence, preferably in capital-intensive industries Steel Industry Relevant experience and knowledge of the steel and metals industry and its value creation drivers.
Extensive knowledge of institutional relations, government and regulatory Relevant experience and knowledge in working with Government and Regulators Talent & Cultural Transformation Relevant experience and knowledge related to cultural transformation in large organizations, with experience in talent management, including compensation, and in alignment of interest between the management and company’ stakeholders. Global Supply Chain Logistics Relevant experience and knowledge in the management and optimization of logistics chains preferably longdistance.
Knowledge about Vale, current and historical context Relevant experience and knowledge about Vale’s history, current context, and challenges. Business Innovation Relevant experience and knowledge in innovation areas at Vale’s businesses, across Vale’s value chain and adjacent areas.
Sustainability & ESG Relevant experience and knowledge in the socioenvironmental and governance areas, including Compliance, preferably in the natural resources industry. Experience in Community relations required.
Finance & Portfolio with value orientation and accountability for performance Experiência e conhecimento relevantes nas áreas de finanças corporativas e gestão de portfólio de ativos em empresas de grande porte
Digital Transformation in B2B/Transformation industry Relevant experience and knowledge in the areas of corporate finance and asset portfolio in large companies.
Commercial and Trading Understanding of the competitive environment, the company’s current and developing businesses, and industry trends.
Administrative Skills, Functional Skills and Sectorial Skills
Administrative Skills Functional Skills Sectorial Skills
Relevant executive experience as CEO Previous successful experience as CEO of large organizations for a relevant period of time. Risk & Safety Management in industries with risk profile compatible with Vale’s Relevant experience and knowledge in risk and safety management in organizations with risk profile compatible with Vale’s. Mining Relevant experience and knowledge of the mining industry, with preference for the iron ore business.
Extensive knowledge of the current business environment in Asia Relevant experience and knowledge of current business environment in Asia, preferably in Vale’s area of operation and preferably based in China. Operations Management focused on the adoption of global best practices Relevant experience and knowledge in operational excellence, preferably in capital-intensive industries Steel Industry Relevant experience and knowledge of the steel and metals industry and its value creation drivers.
Extensive knowledge of institutional relations, government and regulatory Relevant experience and knowledge in working with Government and Regulators Talent & Cultural Transformation Relevant experience and knowledge related to cultural transformation in large organizations, with experience in talent management, including compensation, and in alignment of interest between the management and company’ stakeholders. Global Supply Chain Logistics Relevant experience and knowledge in the management and optimization of logistics chains preferably longdistance.
Knowledge about Vale, current and historical context Relevant experience and knowledge about Vale’s history, current context, and challenges. Business Innovation Relevant experience and knowledge in innovation areas at Vale’s businesses, across Vale’s value chain and adjacent areas.
Sustainability & ESG Relevant experience and knowledge in the socioenvironmental and governance areas, including Compliance, preferably in the natural resources industry. Experience in Community relations required.
Finance & Portfolio with value orientation and accountability for performance Experiência e conhecimento relevantes nas áreas de finanças corporativas e gestão de portfólio de ativos em empresas de grande porte
Digital Transformation in B2B/Transformation industry Relevant experience and knowledge in the areas of corporate finance and asset portfolio in large companies.
Commercial and Trading Understanding of the competitive environment, the company’s current and developing businesses, and industry trends.

Nomination Committee

Vale believes enhancing corporate governance practices will help to improve its operations and compete more effectively. In this sense, an optimization of the governance structure is proposed, such as the establishment of the Audit Committee and the Nomination Committee.

The Nomination Committee worked closely with key governance stakeholders and international consulting firms, considering the level of independence, board structure, size, and diversity parameters. These criteria are essential in defining the nominees for the Board of Directors. Also, the Nomination Committee looked for benchmarks in the best practices of national and international players and further deepened the understanding of institutional investors’ perspectives on these topics. For more information, access the Nomination Committee’s Final Report.


Board Assessment

The Board acknowledges that a robust and constructive assessment process is an essential component of good corporate governance and Board effectiveness.

The Board of Directors has adopted the practice of executing an annual performance assessment, with the support of the People, Compensation and Governance Committee for analysis and recommendation of the evaluation methodology, including any improvements, with an intermediate assessment covering only those aspects identified as susceptible to improvement in the previous assessment.

The Advisory Committees (excluding the Extraordinary Independent Advisory Committees) also conduct a biannual performance assessment, the results of which are brought to the attention of the Board of Directors.

Board members are assessed individually every year, and the consolidated results of the assessments are brought to the attention of the Board, while the individual results are shared with the Chairman of the Board for further feedback discussion with each board member.

In 2019 and 2020, with the support of the People, Compensation and Governance Committee, Vale hired specialized external consulting firm to conduct the assessment and develop the assessment process of the effectiveness of the Board of Directors and the Advisory Committees (excluding the Independent Extraordinary Advisory Committee), as collegiate bodies, and, individually, of their members, including the Chairman of the Board of Directors.

The scope of the assessment of Board members includes aspects such as the contribution made, participation and engagement, skills, and personal profile. The results are shared with the Chairman of the Board, and each board member has had a feedback session with the Chairman of the Board and/or the consulting firm.

Annual evaluation components and processes
1. Specialized external consultant Develop and conduct the assessment process
2. Questionnaire

Directors provide feedback regarding:

  • Board mandate execution based on roles and responsibilities;
  • Structure and composition of the Board of Directors and Board Committees based on behaviors and skills;
  • Contributions to the business: strategy, governance, people, innovation, risk, compliance and finance;
  • Dynamics of the Board of Directors based on interaction between counselors and managers;
  • Processes and support structures.
    For the Board’s assessment, the directors and executive officers provide their insights on:
  • Board mandate execution, based on roles and responsibilities;
  • Structure and composition of the Board of Directors and Board Committees, based on behaviors and skills;
  • Contributions to the business: strategy, governance, people, innovation, risk, compliance and finance;
  • Dynamics of the Board of Directors, based on interaction between Board members and executive officers;
  • Processes and supporting structures
    For the Board Committees’ assessment, feedback was provided by each Committee member, by the other Board members and by the executive officers, considering the same dimensions as above. For the Board members’ assessment, each member performed his/her self-assessment and was evaluated by the peers, considering the following dimensions:
  • Contributions
  • Participation and Engagement
  • Skills and Individual profile
3. Individual Interviews Conducted by the consulting firm with directors and executive officers
4. Analysis Evaluate the effectiveness of the Board of Directors and Advisory Committees and compare results to national and international benchmarks, identify their level of development, as well as analyze the evolution, in comparison to the previous assessment.
5. Feedback Incorporated Based on the assessment results for the collegiate bodies, an action plan is defined and changes in practices or procedures are considered and implemented, if applicable, for the evolution of the collegiate and individual performance. Board members’ feedback with the Chairman and/or external consultants.
Annual evaluation components and processes
Annual evaluation components and processes
1. Specialized external consultant Develop and conduct the assessment process
2. Questionnaire

Directors provide feedback regarding:

  • Board mandate execution based on roles and responsibilities;
  • Structure and composition of the Board of Directors and Board Committees based on behaviors and skills;
  • Contributions to the business: strategy, governance, people, innovation, risk, compliance and finance;
  • Dynamics of the Board of Directors based on interaction between counselors and managers;
  • Processes and support structures.
    For the Board’s assessment, the directors and executive officers provide their insights on:
  • Board mandate execution, based on roles and responsibilities;
  • Structure and composition of the Board of Directors and Board Committees, based on behaviors and skills;
  • Contributions to the business: strategy, governance, people, innovation, risk, compliance and finance;
  • Dynamics of the Board of Directors, based on interaction between Board members and executive officers;
  • Processes and supporting structures
    For the Board Committees’ assessment, feedback was provided by each Committee member, by the other Board members and by the executive officers, considering the same dimensions as above. For the Board members’ assessment, each member performed his/her self-assessment and was evaluated by the peers, considering the following dimensions:
  • Contributions
  • Participation and Engagement
  • Skills and Individual profile
3. Individual Interviews Conducted by the consulting firm with directors and executive officers
4. Analysis Evaluate the effectiveness of the Board of Directors and Advisory Committees and compare results to national and international benchmarks, identify their level of development, as well as analyze the evolution, in comparison to the previous assessment.

Results of the 2020 Intermediate Assessment

The 2020 intermediate assessment was carried out by the Board in the last quarter of the year. Among the results obtained, the following are worth mentioning:

Evolution in Most of the Items Assessed
Greater Involvement in Critical Issues
Advances in Governance for Transition to Corporation
Reinforcement of Critical Training to the Board of Directors
Improvement in the Group’s Dynamics
More Productive Interaction with Executive Officediv

Main opportunities for improvement:

Board x Executives Responsibilities
Innovation Agenda
Onboarding of Directors
Provision of Information
Agenda of Meetings
Critical Skills

Learn more about the Board Assessment process and the results of the 2020 mid-term evaluation here

Board Committees​

The Board Committees advise the Board of Directors, including proposing improvements related to their areas of operation. In order to give greater efficiency and quality to the decisions, the Board ensures the Company's activities are conducted in accordance with laws, ethics and internal controls.

Board oversight:

The Board deliberates on strategic guidelines and plans, monitors and evaluates Vale’s economic and financial performance, analyses its corporate and financial risk policies, elects and evaluates the Executive Officers.

Committees:

  • Audit: Oversees the quality of financial statements, internal controls, compliance, integrity and risk management.

  • People, Compensation and Governance: Evaluates and recommends corporate governance practices, compensation metrics, and board nomination.
  • Operacional Excellence and Risk: Monitors internal controls systems and practices, ensures compliance with all requirements

  • Finance: Oversees the capital structure, annual budget and funding, mergers and acquisitions, capital projects and shareholder remuneration.

  • Sustainability: Evaluates the sustainability strategy ensuring that it is being implemented into the overall strategy.

  • Nomination : evaluates and recommends adjustments to the best corporate governance practices in relation to the structure, size and composition of the Board of Directors.

  • Audit: Oversees the quality of financial statements, internal controls, compliance, integrity and risk management.

  • Personnel and Governance: Evaluates and recommends corporate governance practices, compensation metrics, and board nomination.
  • Operacional Excellence and Risk Committee: Monitors internal controls systems and practices, ensures compliance with all requirements

  • Finance: Oversees the capital structure, annual budget and funding, mergers and acquisitions, capital projects and shareholder remuneration.

  • Sustainability: Evaluates the sustainability strategy ensuring that it is being implemented into the overall strategy.

  • Nomination : evaluates and recommends adjustments to the best corporate governance practices in relation to the structure, size and composition of the Board of Directors.

Board oversight:

The Board deliberates on strategic guidelines and plans, monitors and evaluates Vale’s economic and financial performance, analyses its corporate and financial risk policies, elects and evaluates the Executive Officers.

Committees:

  • Audit: Oversees the quality of financial statements, internal controls, compliance, integrity and risk management.

  • Personnel and Governance: Evaluates and recommends corporate governance practices, compensation metrics, and board nomination.
  • Operacional Excellence and Risk Committee: Monitors internal controls systems and practices, ensures compliance with all requirements

  • Finance: Oversees the capital structure, annual budget and funding, mergers and acquisitions, capital projects and shareholder remuneration.

  • Sustainability: Evaluates the sustainability strategy ensuring that it is being implemented into the overall strategy.

  • Nomination :

  • Management: The executive officers are responsible for the day-to-day operations and implementation of policies and guidelines set by Board of Directors.
  • Audit: Oversees the quality of financial statements, internal controls, compliance, integrity and risk management.

  • Personnel and Governance: Evaluates and recommends corporate governance practices, compensation metrics, and board nomination.
  • Operacional Excellence and Risk Committee: Monitors internal controls systems and practices, ensures compliance with all requirements

  • Finance: Oversees the capital structure, annual budget and funding, mergers and acquisitions, capital projects and shareholder remuneration.

  • Sustainability: Evaluates the sustainability strategy ensuring that it is being implemented into the overall strategy.

  • Nomination :

  • Management: The executive officers are responsible for the day-to-day operations and implementation of policies and guidelines set by Board of Directors.

Management

The executive officers are responsible for the day-to-day operations and implementation of policies and guidelines set by Board of Directors.

Management

he executive officers are responsible for the day-to-day operations and implementation of policies and guidelines set by Board of Directors.



Audit

  • Number of meetings: 28
  • Participation rate: 99%

One of the main important tasks in the operation of the Committee in 2020 was to oversee the creation and implementation of the Compliance Office in the first half of 2020. Mr. Denis Cuenca was selected for the position of Chief Compliance Officer, who will oversee the areas of corporate integrity, internal audit and the whistleblower channel as of July 2020. In conjunction with the Committee for Operational Excellence and Risk (CEOR) and the Compliance Board, monitoring of the 25 recommendations of the Independent Extraordinary Advisory Committee for Investigation (CIAE-A) and follow-up of the evolution of action plans, which include 106 actions (breakdown of the 25 recommendations) of which 55% were audited in 2020, 33% are planned for 2021 and 12% are in planning. Review of the quarterly information, from June to September 2020, the financial statements, and other regulatory documents delivered by Vale. Follow-up of the assessement process of provisions and legal contingencies and of the estimate prepared, by the Management, for the contingencies related to the Samarco accident and to the dam rupture in Brumadinho, among others.

Finance

  • Number of meetings: 22
  • Participation rate: 98%

In 2020, the Finance Committee closely followed expenditure with Brumadinho, the plan to resume Samarco’s operations, the approval of new projects, the early extension of railway concessions, and other activities; • Monitored financial indicators related to Vale’s businesses and segments, the optimal level of indebtedness, the resumption of the Dividend Policy and the progress of business initiatives, in accordance with the Strategic Planning approved by the Board of Directors.

Sustainability

  • Number of meetings: 16
  • Participation rate: 100%

In 2020, the Committee monitored, on a monthly basis, the progress of the implementation of the 84 recommendations remover by the Extraordinary Independent Advisory Committee for Support and Reparation, which concluded its activities in February 2020, for the Full Reparation of impacts from Dam I rupture in Brumadinho. An independent external audit was conducted, finding that 85% of the recommendations were completed in 2020, and the remaining 13 are in progress, with completion expected in 2021. Kept close monitoring of the Renova Foundation’s performance, responsible for projects and actions to repair the impacts of the 2015 collapse of the Fundão dam in Mariana. Special attention was given to the life cycle of mining projects, consolidating the company’s practice of planning mine closure and future land use, from the beginning of mining operations, taking care of the safety of geotechnical structures, environmental recovery, water quality, and the well-being of communities after mining. Closely followed the implementation of the actions and plans for community engagement, in addition to having direct contact with communities’ representatives, among others.

People, Compensation and Governance

  • Number of meetings: 21
  • Participation rate: 96%

In 2020, the People, Compensation and Governance Committee intensified the work related to the “Cultural Evolution”, “Talent Management” and “Promotion of Diversity & Inclusion” projects, mainly in reinforcing culture and communication related to the ESG approach at Vale. In addition, still within this context, it addressed the theme of Employee Value Proposition to strengthen Vale’s employer brand to attract potential young people. Contributed to elect the values of the Company, which resulted in the approval of “Vale Purpose” by the Board of Directors in January 2021. Led the process of evolution of the Corporate Governance Model that supported the preparation plan for Vale and its Board of Directors, to operate as a Corporation with no defined control, from the end of the Shareholders’ Agreement and the AGM 2021, including, among others, the 2021 Roadmap and the ESG Agenda. Acted directly on the Company’s governance model through the creation of Policies, such as the Diversity and Inclusion Policy, the updating of the Succession Plan and, more recently, the revision of Vale’s Bylaws, together with the Nomination Committee, in order to foresee the improvement of the Company’s Governance structure, among others

Operacional Excellence and Risk Committee

  • Number of meetings: 13
  • Participation rate: 96%

After the statutory changes that occurred in the 2020 Extraordinary General Meeting, the Compliance and Risk Committee became the Operational Excellence and Risk Committee, strengthening its competencies to absorb the functions associated with the monitoring of operational risks, including geotechnical risks; In 2020, based on the Risk Matrix and the Global Integrated Risk Map, the Committee monitored the main risk mitigation, crisis management and business continuity plans and continued the interaction with the Independent Extraordinary Advisory Committee for Dam Safety, aiming to further strengthen risk-related governance; In addition, it followed up on the application of the Vale Management System - VPS throughout the company and emphasized the development of a culture of risk awareness, as well as proactive risk management behavior; • Revised the Risk Management Policy, the Policy for Dams and Geotechnical Structures Safety, the Vale Management Model Policy.

Nomination

  • Number of meetings: 18
  • Participation rate: 100%

The Committee was created in July 2020 with the objective of assessing and making recommendations for adjustments to the best corporate governance practices in relation to the structure, size and composition of the Board of Directors, and to the balance of experience, knowledge and diversity of the members’ profiles, considering the needs of the body, in accordance with criteria and guidelines established by the Company’s Nomination Policy and Skills Matrix, both approved in 2020 by the Board of Directors. The Nomination Committee also looked for benchmarks in the best practices of national and international players and further deepened the understanding of institutional investors’ perspectives on these topics, among others.

Get to know the members of the committees:​

Fiscal Council and Audit Committe

The Fiscal Council is an independent supervisory body from the Executive Officers and the Board of Directors, which seeks, through the principles of transparency, equity and accountability, to contribute to the better performance of the organization. The Fiscal Council is responsible for supervising the acts of compliance and fulfillment of its statutory and legal duties; giving an opinion on the Annual Management Report; giving an opinion on the proposals of the management bodies applicable to the change of share capital, issuance of debentures or subscription bonuses, investment plans or budgets.

In addition, the Fiscal Council acted in examining the Internal Audit, External Audit and Ombudsman reports and, also, in the discussion of the actions referring to Samarco Mineração and Fundação Renova, and monitoring of structural projects, such as: management of contracts, inventories, maintenance of assets and information security. The Fiscal Council also interacted with the Consulting Committee for Investigations to ensure that the work went smoothly.

The Fiscal Council is a permanently functioning body, formed by 3 to 5 members, who shall remain in their positions until the first Annual Meeting of Shareholders after their election. The election of the members of the Fiscal Council shall comply with the provisions of the legislation in force and of Vale's bylaws.

The audit committee must fully reflect the requirements of the regulatory bodies and in compliance with the recommendations of regulatory bodies. Previously, in the absence of an Audit Committee, the Fiscal Council assumed this responsibility as extra or “boosted” attributions, such as how to ensure that the mechanisms for receiving complaints guarantee confidentiality and anonymity for whistleblowers, in addition to supervising and accessing the work of external auditors.

The main information about these committes is summarizing in the table below.

Audit committee Fiscal Council
Description Advisory body of the board of directors, to be established pursuant to Vale’s bylaws and the listing rules of the Novo Mercado segment of B3.  Separate and independent body contemplated in the Brazilian corporate law to oversee the activities of the company’s board of directors and the executive officers.
Members Appointed by the board of directors. As Brazilian law does not permit the full board to delegate its powers to a committee, it has advisory duties. Members are elected directly by the shareholders and report directly to the shareholders.
Attributions (non-exaustive)
  • Opining on the appointment and destitution of the company’s independent auditor.
  • Reviewing the company’s interim and annual financial statements.
  • Monitoring the internal auditor and the company’s internal controls.
  • Monitoring the internal auditor and the company’s internal controls.
  • Having appropriate means to receive and treat information relating to violation of legal requirements, regulations and internal policies by the company, including means of protecting confidentiality of the complaint.
  • Overseeing the activities of the members of the board of directors and management and monitoring their compliance with its duties and responsibilities.
  • Opining on the annual management report, and adding any additional information deemed relevant to the general shareholders’ meeting.
  • Opining on board and management’s proposals submitted to the general shareholders’ meeting relating to the Company’s capital structure.
  • Reporting to the appropriate corporate bodies of the company any fraud, crime or urgent and relevant information.
  • Reviewing company’s interim and annual financial statements.
Audit committee Fiscal Council
Audit committee Fiscal Council
Description Advisory body of the board of directors, to be established pursuant to Vale’s bylaws and the listing rules of the Novo Mercado segment of B3.  Separate and independent body contemplated in the Brazilian corporate law to oversee the activities of the company’s board of directors and the executive officers.
Members Appointed by the board of directors. As Brazilian law does not permit the full board to delegate its powers to a committee, it has advisory duties. Members are elected directly by the shareholders and report directly to the shareholders.
Attributions (non-exaustive)
  • Opining on the appointment and destitution of the company’s independent auditor.
  • Reviewing the company’s interim and annual financial statements.
  • Monitoring the internal auditor and the company’s internal controls.
  • Monitoring the internal auditor and the company’s internal controls.
  • Having appropriate means to receive and treat information relating to violation of legal requirements, regulations and internal policies by the company, including means of protecting confidentiality of the complaint.
  • Overseeing the activities of the members of the board of directors and management and monitoring their compliance with its duties and responsibilities.
  • Opining on the annual management report, and adding any additional information deemed relevant to the general shareholders’ meeting.
  • Opining on board and management’s proposals submitted to the general shareholders’ meeting relating to the Company’s capital structure.
  • Reporting to the appropriate corporate bodies of the company any fraud, crime or urgent and relevant information.
  • Reviewing company’s interim and annual financial statements.

In addition to applicable Brazilian rules, Vale is required to comply with the audit committee rules under Rule 10A-3 under the U.S. Securities Exchange Act of 1934. Currently, Vale's Fiscal Council has certain additional powers to allow it to meet the requirements for exemption under paragraph (c)(3) of Rule 10A-3. With the establishment of its audit committee, Vale will rely on the audit committee to meet the exemption requirements under paragraph (c)(3) of Rule 10A-3, and the Fiscal Council will no longer have these expanded powers.

Get to know the Fiscal Council members:

Board of Executive Officers

The executive directors 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 by-laws provide for a minimum of six and a maximum of nine executive directors.

The Board of Directors appoints executive directors for three-year terms and may remove them at any time. According to Brazilian Corporate Law, executive directors must be resident in Brazil. The executive directors hold regular scheduled meetings on a bi-weekly basis and hold additional meetings when called for by any executive director.

The Board of Executive Officers, for its advice, has, on a permanent basis, five non-statutory, technical and advisory committees, called:

​Meet the statutory members of Vale's Board​ of Executive Officers

Eduardo Bartolomeo

Chief Executive Officer​

Eduardo Bartolomeo has been Vale's CEO since April 2019. With solid experience in bulk commodity operations, supply chain and business turnaround. Throughout his professional career, Bartolomeo has shown great ability to lead complex operations and establish a culture of operational excellence.

In his second tenure at Vale, Bartolomeo started as the Executive Director of Basic Metals in Canada from January 2018. His first tenure took place between 2004 and 2012, when his work for the Executive Department of Logistics Operations was well celebrated. There, he developed the Vale Production System (VPS), which together with investment in technology and professional qualification, resulted in significant gains for the company.

Bartolomeo also structured logistics to support Vale's operations in Africa and was one of the main negotiators that enabled Vale to obtain the sub-concession of the 720 km rail branch of the North-South railroad (FNS, Ferrovia Norte-Sul). His role in the negotiations was essential to create Valor da Logística Integrada (VLI), a general cargo transportation company, structured by Bartolomeo in December 2010. Today, VLI has 7.5 thousand employees and in 2017 achieved a turnover of R$4.5 billion.

Download Full Profile

Alexandre Pereira

Executive Director for Global Business Support​

Alexandre Pereira is the Executive VP of Global Business Support at Vale since August 2017. He is responsible for Information Technology, Procurement, Capital Projects, Energy, Operational Excellence, Security and Corporate Services in all lines of business where Vale operates.

With a passion for strategic thinking and transformations, Alexandre is a global and business- focused executive recognized for his dynamic and charismatic leadership, with strong capacity to engage multicultural teams. Entrepreneurship, pure challenge and general management are his career anchors, which contribute to his focus on innovation and his ability to deliver sustainable results under competitive and challenging circumstances.

Throughout his 26 years of professional experience, Alexandre has held a range of global executive positions and gained diverse knowledge bringing together regions into a global company and working with international initiatives, turnaround management, and large-scale projects.

Alexandre holds a degree in Mathematics and Computer Science from State University of Rio de Janeiro. He completed two postgraduate degrees in Business Management from Dom Cabral Foundation and Computer Networks from the Federal University of Espírito Santo. He also holds an MBA in Business from the University of São Paulo. He holds triple citizenship in Brazil, Canada and Portugal (EU).

Download Full Profile

Alexandre S. D’Ambrosio

Executive Director for Legal and Tax

Alexandre S. D’Ambrosio has been Vale S.A.’s General Counsel since March 2018. His responsibilities include the company’s Legal, Tax, Corporate and Compliance Office sectors worldwide. He is also an Officer of Vale International S.A. and a member of the Board of Directors of Vale New Caledonia. He is a former alternate member of the Curator Council of Fundação Renova.

From 2016 to 2018, he was the Executive Vice President of Banco Santander (Brasil) S.A. He was also a member of the board of directors of Santander Security Services Ltda (“S3”). From 2003 to 2016, he was the Corporate Legal Director of the Votorantim group. He was a board member of Aracruz Celulose S.A. (later Fibria S.A.) from 2004 to 2013, of Cimentos Itambé S.A. from 2006 to 2016, and of Citrosuco S.A. from 2009 to 2016.

In the United States, where he remained from 1985 to 1996, he worked as an associate and partner in large law firms, in Washington, D.C. and New York, in the areas of international trade, mergers and acquisitions, project finance and cross-border finance. He obtained an LLB from the University of São Paulo Law School in 1984, an LLM from Harvard Law School in 1986, and the equivalent of a Juris Doctor degree from George Washington University’s National Law Center in 1989.

Download Full Profile

Carlos Medeiros

Executive Director for Safety and Operational Excellence​

Carlos Medeiros is a senior executive with an outstanding international track record and proven capacity to manage large transformational projects. In June 2019, he was appointed to lead Vale’s Safety and Operational Excellence Executive Department, an area specially created to improve the company’s Safety and Risk Management, in line with its strategic pillars of safety, operational excellence and a reformulated pact with society.

Medeiros uses his in-depth knowledge of the lean manufacturing methodology – whose main aims are to optimize processes, continuously improve productivity and quality, and thereby boost competitiveness – to guarantee the safety and efficiency of the company’s operations. He was chosen in line with Vale’s commitment to follow world-class operational standards.

Download Full Profile

Luciano Siani Pires

Executive Director for Finance and Investor Relations​

Luciano Siani Pires was appointed Vale's Chief Financial Officer in August 2012. Before this, from 2008 to July 2012, he held the positions of global director of Strategic Planning and global director of Human Resources and Governance at the company.

He has extensive professional experience in the areas of finance, capital markets and strategic planning. In 2007 and 2008, he was chief of Staff and executive secretary to the President at Brazil's National Development Bank (BNDES), where he previously worked from 2005 and 2006 as chief of the Holding Management Department (Capital Markets), and head of the Export Finance Department in 2001 and 2002. Also at BNDES, between 1992 and 1999 he held positions in the areas of financial planning, investor relations and capital markets. For two years, from 2003 to 2005, he worked as a consultant for McKinsey & Company, focusing on the basic materials sector.

Luciano Siani has an undergraduate degree in mechanical engineering from Pontifícia Universidade Católica in Rio de Janeiro (PUC-RJ) and a MBA, with a finance specialization, from the Leonard N. Stern School of Business, New York University.

Download Full Profile

Luiz Eduardo Osorio

Executive Director for Communication and Institutional Relations​

Luiz Eduardo Osorio has extensive experience in the areas of International Relations, Corporate Affairs, Sustainability, Law, Ethics & Compliance, liaising with ministries, regulatory agencies and government representation in their various spheres. He has held management positions in Brazil and abroad in large national and multinational companies, such as AmBev, Diageo, Shell and Raízen. He is currently a member of the Advisory Council of the Columbia Center on Sustainable Investment, Columbia University, and the director of the Rio de Janeiro Commercial Association (ACRJ). He is also the chairman of the Managing Council of the Brazilian Mining Institute (IBRAM).

Osorio has a law degree from PUC-RJ and a Master's degree in Management Development from the American University (USA). He has also taken professional extension courses in Business Management, which included Corporate Social Responsibility, Strategy, Leadership, and Performance at Harvard, Insead, and Wharton universities.

Download Full Profile

Marcello Spinelli

Executive *Vice President, Iron Ore​

Marcello Spinelli has been Vale's Executive Director for Ferrous since May 2019. He has built solid experience in integrated logistics operations throughout the nearly 10 years he has been at the forefront of the Value of Integrated Logistics (VLI) of intermodal transport in Brazil. At VLI, it conducted a cycle of robust investments in operating efficiency and company growth.

He had held senior leadership positions in Vale from 2002 to 2010 in the general cargo commercial area and in the Tubarão Complex operations. He was the CEO of the Vila Velha Terminal and accumulated the position of Vale's Logistics Director with the president of the Centro-Atlântica Railroad. He led the creation of VLI in 2008. Previously, he worked at Submarino and Ambev.

Marcello has a production engineering degree from USP and has different extension courses in business, operations, management and infrastructure.

Download Full Profile

Maria Luiza de Oliveira Pinto e Paiva

Executive Director for Sustainability

Maria Luiza de Oliveira Pinto e Paiva is Executive Director of Sustainability. She has been working in Sustainability and Human Resources for 34 years and before coming to Vale, she was Suzano's director of Sustainability.

She also served as Executive Director of Sustainability, Communication and Corporate Relations at Fibria Celulose from March 2015 to December 2018. She was an executive at Banco ABN AMRO Real/Santander and Banco Nacional - with a trajectory focused on cultural transformation and leadership development. As Executive Director of Sustainable Development at ABN AMRO Real Santander, she led the creation and implementation of the sustainability strategy that became a national and international benchmark. She led multicultural teams and projects in the periods in which she directed the HR area for Latin America, the Caribbean and Europe.

She is a psychologist with a specialization in Human Resources from the University of Michigan, USA and is currently studying Business and Sustainability at Cambridge University, England.

Download full profile

Marina Quental

Executive Director​ of People

Marina Quental was appointed Vale’s People Director in November 2017. She is responsible for the global human resources strategy and operations for the company and leads the Board’s People Committee. One of her main challenges is to drive culture and organization transformation for Vale.

She built a solid professional career at Brazilian and foreign companies, working in the areas of organizational development, culture, compensation, social responsibility, and merger's and acquisitions.

Before joining Vale, Ms. Quental was the Vice President for Human Resources at Raízen, a joint venture between Shell and Cosan, from April 2014 to November 2017. She participated actively in the creation of this joint venture. Previously, she was the Human Resource director of Shell Brasil for six years and before that held various leadership positions at IBM in Brazil and the United States. Ms. Quental was president of the Raízen Foudantion, the company’s social responsibility branch, between April 2014 and November 2017.

She has an undergraduate degree in psychology from Rio de Janeiro Catholic University and an Executive MBA from the Dom Cabral Foundation.

Download Full Profile

​Vale's Executive Board also has non-statutory members.​

Paulo Couto

Director of Coal

Paulo Couto takes on the Coal Department in June 2020. Paulo Couto joined Vale in 2010 after a solid career in companies such as Whirlpool, Ambev, Bain & Co and Shell. In 2016, he took on the position of Director for Procurement and Logistics Inbound at Vale. Known to have a people centered approach to decision making, Paulo has demonstrated his ability to lead transformations in complex environments while generating expressive and sustainable results. Couto holds a Production Engineering degree from the Federal University of Rio de Janeiro (UFRJ) and an MBA from the Harvard Business School.

Mark Travers

 Director of Base Metals

Mark Travers is the Executive Director of Base Metals, a position he has held on an interim basis since March 2019.

Mark is passionate about sustainability and building a positive social, economic and environmental legacy in the communities where we operate, through responsible mining practices.

Mark currently serves as President of PT Vale’s Board of Commissioners. Since joining Vale in 2001, he has held progressively senior roles in legal, institutional relations, corporate strategy and sustainability, including serving as General Counsel, Vale Canada Limited. Prior to joining Vale, Mark was a corporate lawyer at Smith Lyons law firm in Toronto, Canada.

He holds a Bachelor of Arts (Honours) from the University of Western Ontario and a Joint Master of Business Administration and Bachelor of Laws Degree from York University’s Osgoode Hall Law School in Toronto, Canada.

Read Also

Imagem Ethics and Transparency

Ethics and Transparency

All our relationships are based on ethical standards

Read more
Imagem Our People

Our People

 

Read more