Vale Reshuffles Director Roles

Brazilian mining giant Vale says Gabriel Stoliar and José Lancaster, two of the company’s board directors, will leave, and that their duties will be transferred over to the remaining members. Demian Fiocca, the former president of the BNDES, will take over as executive director for management and sustainability, which includes corporate communications and institutional relations, corporate development, IT, and environmental sustainability. Tito Martins will become executive director of non ferrous minerals and energy, encompassing copper, coal, aluminum, non ferrous metals projects and industrial minerals and energy. José Carlos Martins and Fabio Barbosa, CFO, will be responsible for steel partnerships and business development, respectively. The two departing directors won’t be replaced, says Vale.