Miner Vale CEO dies in crash

The Pak Banker - - COMPANIES/BOSS -

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.

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