Agnelli Ousted

Agnelli Ousted

People Corporate & Sovereign Strategy Argentina Brazil Mexico Dominican Republic

Vale’s controlling shareholders named Murilo Ferreira to replace Roger Agnelli as CEO when Agnelli’s term expires in May. Valepar, the controlling shareholder of the Brazilian miner, had indicated it would seek a new CEO following months of speculation as the government – holder of direct and indirect stakes – repeatedly criticized Agnelli. Braskem named Luiz de Mendonça CEO of Braskem America. He replaces Carlos Fadigas, who was CEO of the Brazilian petrochemical producer’s US unit until he was named CEO of Braskem in December. Mendonça had been CEO of petrochemical company Quattor since its 2010 acquisition by Braskem, and prior to that had been vice

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