No less than 30% of Vale executives’ short-term compensation is determined by assembly targets associated to security, threat administration and sustainability. For long-term compensation, since 2022, a minimum of 25% of efficiency targets have been tied to environmental, social, and governance (ESG) metrics.
Vale has set a purpose to cut back its greenhouse fuel emissions by 33% by 2030.
General, about 80% of the brand new CEO’s compensation is tied to assembly particular targets.
Previously Vale’s CFO, Pimenta took on the CEO position this Tuesday, starting a three-year time period.
He started his profession in 2004 as an auditor at KPMG, the place he labored for practically three years. He then joined Citi as an govt in New York, staying for nearly six years, together with in the course of the 2008 monetary disaster.
Within the following yr, the manager joined AES Brazil, serving as vp of companies and later as vp of finance and investor relations.
He went on to carry the identical place in AES’s worldwide operations. Pimenta additionally served on the boards of corporations similar to AES Gener in Chile and AES Clear Vitality in the US. He ultimately moved to Vale as CFO, a place he held for nearly three years earlier than turning into the corporate’s CEO.