Brazilian miner and iron ore producer Vale announced a new business structure, which is expected to support the company’s new strategy under the leadership of new CEO Fabio Schvartsman. Vale said its new vision is based on “performance, strategy, governance and sustainability.”
In its new business structure, Vale has merged its ferrous minerals and coal operations. Peter Poppinga will lead the unit. Vale has also shut down its former logistics and mineral research as a separate division.
Vale said Jennifer Maki is the company’s base metals directors. Luciano Siani assumed the seat of CFO and executive officer for investor relations. Clovis Torres is the company’s general counsel director, while Luiz Eduardo Osorio assumed as sustainability and institutional relations director.
Vale said it has yet to appoint a new director for its business support area, responsible for providing global corporate services such as information technology and procurement.
“The objectives that promoted this change are: fostering greater integration in our value chain and eliminating duplicity in hierarchical structures. It is important to emphasize that the integration between these areas is a determining factor for improving the performance of our businesses,” the company said in a statement.
Additionally, Vale named two new, currently unfilled director positions, which will not be members of the executive board but will report directly to the CEO: a director of personnel and a director of strategy and technology.