Vale announced that, in light of his new duties as CEO of Brasilprev Seguros e Previdência SA, Mr Ricardo Flores, chairman of Vale’s board of directors, has announced he will pass on the chairmanship to Mr Dan Conrado.

During the Board meeting, Mr Ricardo Flores announced his resignation, expressing gratitude for the unconditional support he received from Vale’s shareholders, other board members and executive officers.

Mr Ricardo Flores, who had served as Chairman of our Board of Directors since November 2010, made important contributions to Vale, working in harmony with all the shareholders and senior management and reinforcing the culture of meritocracy in the company.

Mr Dan Conrado’s appointment will be submitted to board approval at its October 2012 meeting.

Mr Dan Conrado is currently president of Previ, the largest pension fund in Latin America. He holds a law degree and previously held various positions within Banco do Brasil, including Vice President of Retail, Distribution and Operations, Director of São Paulo Distribution and Director of Marketing and Communications.

Source - Vale

(www.coalguru.com)