Vale (VALE3) Announces the Appointment of Gustavo Pimenta as New CEO

Vale (VALE3) has announced the appointment of Gustavo Pimenta as the company's next president, according to a related fact released on Monday evening (26). The CEO was unanimously elected by the Board of Directors, “after a rigorous selection process supported by a company with international standards,” the company reported.

He will assume his position on January 1, 2025. The contract of Eduardo Bartolomeu, the current president, ends on December 31 of this year. Pimenta is the company's current executive vice president for finance and investor relations.

According to the mining company, the selection is in line with Vale's bylaws, company policies, board of directors' internal regulations and applicable legislation.

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Pimenta said in the statement that he would intensify “dialogue with all stakeholders,” and prioritize “the safety of people, operations and the environment.” “I am confident that we will continue to advance our mission, focusing on generating and distributing value, and taking Vale to greater heights.”

About Gustavo Pimienta

According to Val, Gustavo Pimenta is an executive with global experience in the financial, energy and mining sectors, with a career spanning more than 20 years in Brazil, the United States and Europe.

In 2021, he took over as Executive Vice President Finance and Investor Relations at Vale SA and was also responsible for the areas of Procurement, Energy and Decarbonization.

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Prior to joining Vale, Pimenta was an executive at AES for 12 years, where he gained extensive experience as Global CFO, Director of Planning and Strategy, and Vice President of Performance and Services at the company.

He also served as Vice President of Strategy and Mergers and Acquisitions at Citigroup in New York.

He holds a degree in Economics from the Federal University of Minas Gerais and a Master's degree in Finance and Economics from Fundação Getúlio Vargas.