UPDATE 5-Brazil's Agnelli, who turned Vale into top miner, dies in crash

domingo 20 de marzo de 2016 13:26 GYT
 

(Updates with official confirmation, reaction)

By Guillermo Parra-Bernal and Tatiana Bautzer

SAO PAULO, March 20(Reuters) - Roger Agnelli, the Brazilian banker who turned Vale SA into the world's No. 1 iron ore producer, died on Saturday in a plane crash. He was 56.

Agnelli, his wife and two children were among seven killed when his Comp Air 9 turboprop monoplane slammed into two homes around 3:20 p.m. local time (1820 GMT), minutes after taking off from an airport in northern São Paulo, authorities said.

"We have lost a Brazilian of extraordinary entrepreneurial vision," President Dilma Rousseff said in a statement Sunday, adding that Agnelli had devoted his career to big Brazilian companies and shown commitment to the development of his country.

Sources said Agnelli was traveling to a wedding ceremony in Rio de Janeiro with his wife Andréia, son João, daughter Anna Carolina, and their two spouses. The weather was clear at the time of the crash.

In a statement, Vale said it learned of Agnellis death with "immense sadness" and said his 10-year tenure at the company had intensified its global expansion and transformation into a major global player.

Known for his discipline and feisty nature, Agnelli clinched the top job at Vale in July 2001 after 19 years as a corporate and investment banker with Banco Bradesco SA, a major Vale shareholder.

He instilled a culture of meritocracy that helped make Vale Brazil's No. 1 exporter. To friends and foes, the key to Agnelli's success was accurately predicting the rise of China as a major minerals consumer, a crucial wager in turning Vale, a former bloated state-controlled firm, into a global powerhouse.   Continuación...