Harvard Business Review ranked Roger Agnelli as the fourth best-performing chief executive officer globally in 2013, placing him behind Steve Jobs, Jeff Bezos, and Yun Jong-Yong. This recognition highlighted his tenure managing a massive mining operation, an era defined by aggressive industrial strategy, significant labor force reductions, and high-stakes friction with the Brazilian executive branch.
Early Development and Banking Career
Born in São Paulo in 1959, Agnelli emerged from a lower-middle-class family. He completed his undergraduate studies in economics at Fundação Armando Alvares Penteado in 1981. Following graduation, he entered the financial sector, maintaining a seventeen-year tenure at Banco Bradesco. He rose through various corporate ranks to become an executive director in 1998, a position he occupied until his departure from the institution in 2000.
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Upon leaving Banco Bradesco, Agnelli transitioned to lead Bradespar, a holding company established to manage industrial investments. During the 2000 to 2001 period, he simultaneously served as chairman of the board for a major mining company, eventually assuming the roles of president and chief executive officer in 2001. He remained at the helm of the organization for one decade until his forced departure.
Political Conflict and Ouster
Tensions between Agnelli and the Brazilian Workers Party intensified following the 2008 financial crisis, during which he oversaw the termination of 2,000 employees. He later publicly claimed that party members attempted to influence corporate decision-making and install loyalists within his mining firm. Following reports in March 2011 regarding the company's interest in the Belo Monte Dam project, the government demanded his resignation. He was replaced by Murilo Ferreira, a figure aligned with President Dilma Rousseff.
Final Ventures and Fatal Accident
After leaving his primary mining leadership role, Agnelli established AGN Holding in 2012, serving as its founding partner and chief executive officer. On March 19, 2016, he departed from Campo de Marte Airport in São Paulo aboard a Comp Air 9 aircraft. The plane crashed into residential properties shortly after takeoff, resulting in the deaths of Agnelli, his wife Andréia, his children Ana Carolina and João, and three other individuals.
Fast facts
- Born: May 3, 1959, São Paulo, Brazil
- Died: March 19, 2016, São Paulo, Brazil
- Education: Fundação Armando Alvares Penteado
- Major Roles: CEO of Bradespar and AGN Holding
- Harvard Business Review 2013 Ranking: 4th best-performing CEO
- Citizenship: Brazilian
Questions readers ask
Was Roger Agnelli related to the Italian family that founded Fiat?
No, he was of Italian origin but was not related to the family that founded and managed Fiat.
Why was Agnelli removed from his position at his mining company?
The Brazilian government requested his ouster in 2011 following ongoing political clashes with the ruling Workers Party, including disputes over his management decisions during the 2008 financial crisis.
Achievements
- Educated at Fundação Armando Alvares Penteado
