Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vale Names Cavalcanti CFO, Replacing Fabio Barbosa

Don't Miss Out —
Follow us on:

June 28 (Bloomberg) -- Vale SA, the world’s largest iron-ore producer, said it named Guilherme Cavalcanti as its chief financial officer, replacing Fabio Barbosa.

Barbosa, 49, is leaving Rio de Janeiro-based Vale to “pursue new professional challenges,” the company said today in a regulatory filing, without giving a time frame for when Cavalcanti’s appointment will take effect. The nomination will be submitted to the board at the next meeting, Vale said.

Cavalcanti has worked as global head of corporate finance at Vale since 2005. Previously, he worked as treasury director for Globo Comunicacoes & Participacoes SA and was a board member for Net Servicos de Comunicacao SA, Brazil’s largest cable-TV provider.

He has a master’s degree in economics from Pontificia Universidade Catolica in Rio de Janeiro.

Barbosa joined Vale in 2002 as its CFO. He formerly held several Brazilian government positions, including at the ministry of Industry and Commerce, at the ministry of Labor and at the ministry of Planning and Budget Management. He also served as secretary for the National Treasury at the Ministry of Finance and as an adviser for the World Bank.

Vale fell 2.1 percent, the most since June 18, to 41.03 reais at 5:07 p.m. in Sao Paulo trading. The stock has climbed 36 percent this year.

Link to Company News:{VALE3 BZ <Equity> CN <GO>}

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net;

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.