Vale Board again postpones decision on president

Vale’s Board was unable to define this Thursday (15) what the future of the succession of the company’s president, Eduardo Bartolomeo, will be. The meeting between councilors ended without consensus.

According to an investigation by the Folha de S. Pauloof the company’s 13 directors, one abstained from voting, 6 voted for the reappointment of the current president and another 6 for opening a succession process.

According to Vale, the extraordinary meeting to deliberate on the topic “ended inconclusively and the council will meet again in the coming days in search of a definition on the matter.”

The company’s succession gained strength after President Luiz Inácio Lula da Silva (PT) considered appointing former minister Guido Mantega to command. However, rumors reported Planalto’s withdrawal, after signaling that the board of directors would not approve the former minister’s name.

Bartolomeo’s term ends on May 26 and, according to the company’s bylaws, negotiations must begin three months in advance. The company clarified that the definitive choice could take place until the end of the term.

Recommendations for three candidates must be sent by headhunters and must include the name of the current president.

Bartolomeo’s replacement has been defended by the government and has the support of two advisors appointed by Previ, Daniel Stieler and João Luiz Fukunaga, and the one appointed by Bradesco, Fernando Jorge Buso Gomes.

In addition to them, the Sheet reported that the workers’ representative, André Viana, and independent councilors Marcelo Gasparino and Rachel de Oliveira Maia voted against the reappointment of the current commander.