Marcelo Bacci Appointed as Vale's New Chief Financial Officer

Marcelo Bacci has been appointed as CFO of Brazilian miner Vale by the company's board, starting December 2. Bacci previously served as CFO at Suzano and succeeds Murilo Muller, who is currently in a temporary role. Suzano, meanwhile, has named Marcos Moreno Chagas as its new CFO following Bacci's departure.

Vale, a leading global mining company, announced on November 29, 2022, that Marcelo Bacci has been appointed as the company's new Chief Financial Officer (CFO), effective December 2. Bacci previously served as CFO at Suzano, a Brazilian pulp and paper company, and succeeds Murilo Muller, who is currently in a temporary role.

Bacci's appointment comes as Marcos Moreno Chagas takes over as CFO at Suzano, following Bacci's departure. According to Vale's executive board page [1], Bacci's profile will be added to the list of executive vice presidents once he assumes his new role.

With over 25 years of experience in finance and operations, Bacci brings a wealth of expertise to Vale. Prior to his time at Suzano, he worked at Anglo American, where he served as the Chief of Staff from 2009 to 2011 and the CFO for the thermal coal business from 2011 to 2014 [1].

Meanwhile, Deshnee Naidoo, Vale's current Executive Vice President of Base Metals, will move to that business area, having previously served as CFO of the Base Metals business at Vale since December 2021. Naidoo has a strong background in the mining industry, having previously served as CEO of the Zinc International business at Vedanta Resources from 2014 to 2020, where she held full P&L accountability for the international Zinc group [1].

The changes in leadership at Vale and Suzano reflect the ongoing shifts in the global mining industry, as companies adapt to changing market conditions and competitive landscapes.

References:
[1] Vale. (n.d.). Vale’s Executive Board. Retrieved November 29, 2022, from https://www.vale.com/leadership