Vale S.A. : Vale announces new Chief Financial Officer
Rio de Janeiro, July 23, 2012 - Vale S. A. (Vale) informs that Tito Martins, who has been with the company since 1985, is leaving to follow a new stage in his successful professional career.
Luciano Siani is being nominated to replace Tito Martins as Chief Financial Officer with responsibilities for IR, Shared Services, Procurement and Capital Projects PMO. He has a degree in Mechanical Engineering from PUC Rio de Janeiro, and a MBA degree from the Stern School of Business, New York University.
Luciano, who is with Vale since 2008, has an extensive professional experience. At Vale he was global director of Strategic Planning in 2008-2009, global director of Human Resources in 2009-2011 and returned to Strategic Planning in 2011. His previous experience includes a position as a consultant for McKinsey & Co. in 2003-2005 and 12 years as an executive of BNDES in the Finance and Capital Markets team. In these positions he was board member of Telemar, Suzano and Valepar.
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This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.