Vale holds a meeting this Friday and decides whether or not to keep the president in office

Vale holds a meeting this Friday and decides whether or not to keep the president in office
Vale holds a meeting this Friday and decides whether or not to keep the president in office
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Eduardo Bartolomeo faces resistance from Previ, the pension fund for Banco do Brasil employees, which expressed interest in replacing him; Lula wants Butter

Lula

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247 – Vale shareholders are considering postponing the decision on succession at the company, seeking more time after the controversy generated by President Luiz Inácio Lula da Silva’s attempt to nominate Guido Mantega, former Finance Minister, for the presidency. An extraordinary meeting of the board of directors is scheduled for this Friday, 2nd, with the aim of evaluating whether the current president, Eduardo Bartolomeo, remains in office. The expectation is that there will not be a definitive decision, prolonging the debate on the succession until May, when Bartolomeo’s term ends, points out report from the State of S. Paulo.

Bartolomeo faces resistance from Previ, the pension fund for Banco do Brasil employees, which has expressed interest in replacing him. There is concern among some shareholders to prevent the change of leadership at Vale from being interpreted as a defeat for Lula or the government, given the company’s strategic importance in the national economic scenario. In this context, the name of Luiz Henrique Guimarães, former president of Cosan and member of the Vale board, resurfaced as a relevant possibility in the succession dispute.

Faced with the various options being analyzed, including the proposal for a shorter term for Bartolomeo or his inclusion in a triple list for succession, the council seeks to gain time to evaluate all variables.

The article is in Portuguese

Brazil

Tags: Vale holds meeting Friday decides president office

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