Vale appoints new CEO

Vale has informed that Fabio Schvartsman was appointed Vale’s CEO.

Fabio Schvartsman has a graduate and post-graduate degree in production engineering from the University of São Paulo and a post-graduate degree in Business Administration from Fundação Getúlio Vargas. He worked for 10 years at Duratex and for 22 years at the Ultra Group, where he left in 2007 as the Ultrapar holding CFO and managing partner of Ultra S.A.. Fabio was CEO of Telemar Participações and of San Antonio International and has been Klabin´s CEO since 2011.

Fabio Schvartsman was appointed by Vale’s Board of Directors from a list prepared by Spencer Stuart, in accordance with Vale´s governance.