JAKARTA, RAKYAT NEWS – The giant mining PT Vale Indonesia Tbk (INCO) announced the resignation of Fabio Ferraz from his position as Commissioner of the company. The news was disclosed through an official statement, confirming that the management of INCO had received Ferraz’s resignation letter on February 19, 2025.

Wiwik Wahyuni, the Corporate Secretary of INCO, confirmed that the resignation request would be presented for approval at the upcoming General Meeting of Shareholders (GMS). Despite the resignation, Wahyuni assured that there would be no material impact on the company’s operations, legal standing, financial condition, or business continuity.

Fabio Ferraz had been serving as INCO’s Commissioner since his appointment during the company’s Annual General Meeting on January 19, 2022. His resignation comes after a tenure marked by his vast experience in the banking and finance sectors.

Before joining Vale Indonesia, Ferraz had a long career in the banking industry, beginning in 1994. He held significant positions, including Head of Corporate & Investment Banking at Haitong Bank from 2016 to 2018, Co-Head of Corporate & Investment Banking at Banco Pine from 2013 to 2016, and Managing Director of Investment Banking from 2010 to 2013.

Furthermore, Ferraz worked as Executive Director and Head of M&A for Latin America at UBS Investment Banking from 2000 to 2005. His extensive background in corporate finance and investment banking has played a vital role in shaping his contributions to Vale Indonesia.

Fabio Ferraz holds a Bachelor of Business Administration from Fundacao Getulio Vargas, obtained in 1990, and a Master of Business Administration from the University of Michigan, earned in 1994. His educational background further solidified his role in the corporate world, where he gained recognition as a seasoned banking executive.

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