Vale's Board of Directors announces that, as a result of the non-renewal of Mr. Murilo Ferreira's term as Vale's CEO at the end of his tenure in May 2017, the selection of a successor will occur, as per the existing governance process. The selection process will be supported by an international executive recruiting firm and the new CEO will be elected by Vale's Board of Directors.

The Board of Directors expresses its thanks to Murilo for his leadership for almost six years as head of Vale. Murilo's tenure was distinguished by the transformation of Vale into a leaner, lower-cost company with simpler and more efficient processes. With Vale, Murilo successfully faced down several economic challenges, leading Vale firmly in the recovery of its worldwide leadership status in the mining industry.

Rio de Janeiro, February 24th, 2017

Gueitiro Matsuo Genso

Chairman of Vale´s Board of Directors

Vale SA published this content on 24 February 2017 and is solely responsible for the information contained herein.
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