Summary by Moomoo AI
Vale SA announced on July 11, 2024, a reshuffling of its Audit and Risks Committee. The Board of Directors approved the appointment of Mr. Manuel Lino Silva de Sousa Oliveira as the coordinator of the Committee, where he will also continue to serve as the financial specialist. Joining him will be new member Mr. Douglas James Upton, alongside existing member Mr. Paulo Hartung, maintaining the Committee's three-member, all-independent structure. The Committee, which acts as a statutory advisory body to the Board, is tasked with overseeing financial reporting, compliance, risk management processes, and the activities of both internal and independent auditors. Vale SA emphasized the availability of the Committee members' resumes on its website for public consultation. The announcement also included a cautionary note on forward-looking statements, highlighting the various risks and uncertainties that could affect future results, such as market conditions and global economic factors.