Gleisi defends Mantega’s appointment to Vale’s Board

The president of the PT, Gleisi Hoffmann, came out in defense of the appointment of former Finance Minister Guido Mantega to command Vale, after president Luiz Inácio Lula da Silva (PT) tried to place Mantega in the succession. The company was privatized almost three decades ago, but Lula insists on interfering in its direction.

According to Gleisi, Mantega is “one of the most wronged Brazilians of our time” and highlighted the former minister’s history in Lula’s two governments and in the first term of former president Dilma Rousseff as a great example to take command of Vale . Gleisi mentioned that Mantega managed to control inflation within the target throughout the period, which “was 3.64% in 2007, the lowest in the last 25 years”, among many other “advances”.

“Always remembering that he was the Minister of Finance when Brazil faced, with more success than any other country, the biggest global financial crisis in history, in 2008 and 2009. Very few Brazilians are as qualified as Guido Mantega to be part of the Council of It’s worth it,” wrote the deputy.

For Gleisi, the former minister is “qualified for this or any other important mission, which requires capacity and commitment to the country”. She said that Mantega “was the target of lies and false accusations from laundering.”

“He proved his innocence, he was acquitted of everything, but nothing will repair his personal suffering during these years of persecution. Now he has become the target of gross lies by the media who want to ostracize him, perpetuating injustice. As they have no valid arguments against him, attack a caricature drawn by the historical falsification of his management at the Treasury”, highlighted the PT member.

The PT president also reinforced that “Guido is not being attacked for defects or mistakes he has made. “He is attacked (and even hated) because of the invaluable contribution he made to the stability, quality and growth of the economy in our country. For everything he did for Brazil, Guido Mantega deserves all the respect and our unrestricted solidarity”, he concludes.

Lula’s relationship with Mantega dates back to the 2022 campaign, where the former minister worked informally and was part of the transition team for a week. Even with the previous disqualification by the TCU due to tax “pedaling”, this decision was suspended in 2023 by the Federal Regional Court of the 1st Region (TRF-1), paving the way for the new onslaught.

Mantega’s possible inclusion on Vale’s board provides for a monthly remuneration of approximately R$100,000, with an ordinary monthly meeting and participation in two internal committees.

However, negotiations depend on the approval of other shareholders, as Vale no longer maintains the governmental influence of the past. As a “corporation” since 2020, the company has its capital diluted in the market, with no individual shareholder holding more than 10%.