Skip to content

Vale’s new CEO takes the helm

Fabio Schvartsman began in his new position on May 22.
schvartsman_cropped
Fabio Schvartsman, CEO, Vale (Klabin photo)

Fabio Schvartsman took on his new role as CEO of Vale on May 22.

Schvartsman succeeds Murilo Ferreira, who served as Vale’s CEO for six years.

“Under his management, Murilo steered Vale through a very turbulent period in the world mining industry and managed Vale through some of the most difficult times in its history,” Vale noted in a news release.

“It was also under Murilo's leadership that Vale became a much leaner and responsive company with significant improvements in its competitive position while preserving the company's balance sheet. Vale delivered S11D, the largest project in its history, and turned its focus to core assets, making divestments that totaled more than US$ 16 billion.”

Schvartsman, 63, has graduate and post-graduate degrees 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, leaving the company in 2007 as the Ultrapar holding CFO and managing partner of Ultra S.A.

Schvartsman was CEO of Telemar Participações and of San Antonio International and, since 2011, CEO of Klabin, Brazil’s largest paper producer and exporter.

In February, Vale announced Ferreira's contract — which formally expired in May — would not be renewed and that a search had begun for his replacement. The board of directors announced the selection of Schvartsman on March 27.

Schvartsman was appointed by Vale’s board of directors from a list prepared by Spencer Stuart, an international recruiting company, in accordance with Vale’s governance.


Comments

Verified reader

If you would like to apply to become a verified commenter, please fill out this form.