Mark Cutifani steps down as chair of board at Vale Base Metals
Vale Ltd. has announced that Mark Cutifani will step down as chair of the board of directors of Vale Base Metals to focus on new professional projects.
'As the inaugural chairman of VBM, Mark played a pivotal role in manifesting the carve out of VBM from Vale S.A.,' the company said in a news release last month.
'His vision, strategic acumen and vast industry knowledge and experience helped set the stage for VBM's early momentum post-carve out, while laying the foundation for future growth and long-term value generation.'
Vale Base Metals was created as a separate entity to focus on the company's efforts to produce critical minerals. It is based in Canada and has its headquarters in Toronto.
Was VBM's first chair
Cutifani was the chief operating officer of Vale's nickel operations when Vale took over the company from Inco Ltd. He was appointed as Vale Base Metals' first chair of the board of directors in 2023.
'His contributions were instrumental in setting a strategic roadmap for VBM, optimizing the company's portfolio, building the VBM executive leadership team, and completing the company's strategic partnership with Manara Minerals in July 2023,' Vale said in the news release.
Replacing him is Vale CEO Gustavo Pimenta.
Pimenta's appointment 'ensures strong leadership continuity and alignment with Vale S.A.'s broader strategic objectives in the energy transition metals business,' the company said.
'I'd like to acknowledge Gustavo and Vale for the trust in navigating this transformation, and particularly acknowledge (VBM CEO Shaun Usmar) and the Base Metals team for the great work done and the exciting future they are creating,' Cutifani said in the release.
'I look forward to maintaining a strong relationship with the team as technical work continues from the asset review.'
'I want to thank and celebrate Mark for his leadership, support and mentorship,' Usmar said.
'He was instrumental in my decision to join the company and his principle-driven approach, deep industry knowledge, vast networks and broad experience in everything from operations to projects to sustainability to innovation have been invaluable in shaping the transformation we've embarked upon at VBM.'
The transition will take place this month, with the company announcing its 2025 sales report July 22.
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