Miner Vale CEO dies in crash
Roger Agnelli, who presided over an unprecedented decade of growth during the commodities boom that entrenched Brazilian mining company Vale SA as the world's largest iron-ore producer, has died. He was 56. Vale confirmed Agnelli's death on Sunday, a day after he and six others -- including his wife, son and daughter -- were killed in a Sao Paulo plane crash. His single-engine turboprop came down in a residential neighborhood about three minutes after leaving Campo de Marte airport en route to Rio de Janeiro, according to Brazil's civil aviation agency.
Agnelli, an economist, was president and chief executive officer at Vale -- and the same company under its prior name Cia. Vale do Rio Doce -- for a decade through 2011 during a period when iron ore prices spiked. He led the company to an investment-grade rating, oversaw more than $84 billion in investments and acquisitions, and distributed $17 billion in dividends. Firefighters at the scene of the wreckage where a small plane crashed into a house in Sao Paulo, Brazil on March 19. Firefighters at the scene of the wreckage where a small plane crashed into a house in Sao Paulo, Brazil on March 19. Brazil lost a citizen with "extraordinary entrepreneurial vision," who was always "committed to the development of the country," Brazilian President Dilma Rousseff said in a statement.