📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Candidates to be next CEO of Brazil miner Vale recommended, newspaper says

Published 07/09/2024, 12:56 PM
Updated 07/09/2024, 08:00 PM
© Reuters. FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves/File Photo
VALE
-

SAO PAULO (Reuters) -A consulting firm hired by Brazilian mining company Vale to help with its chief executive succession process has presented its board of directors with 15 potential candidates, local newspaper O Globo reported on Tuesday.

Among those suggested by the Russell Reynolds consultancy for Vale's top job are the heads of large Brazilian firms, including Embraer's Francisco Gomes Neto, Gerdau's Gustavo Werneck and Klabin's Cristiano Teixeira.

Vale, one of the world's largest iron ore miners, expects to announce by early December its new chief executive to replace Eduardo Bartolomeo, whose term ends this year.

In a securities filing on Tuesday evening, Vale said Russell Reynolds' advice regarding its chief executive succession plans are ongoing. The filing added the miner's board of directors has not yet decided on a list of candidates for the role.

Russell Reynolds' list also includes Pedro Parente, according to the O Globo report. Parente led Brazil's state-run oil giant Petrobras from 2016 to 2018 and served as former President Fernando Henrique Cardoso's chief of staff.

© Reuters. FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves/File Photo

Other names listed in the newspaper report were Volkswagen (ETR:VOWG_p) America head Pablo Di Si, Anglo American (JO:AGLJ)'s Ruben Fernandes, Equatorial's Carlos Piani and Engie Brasil's Mauricio Bahr.

Last week, Vale pledged to "proceed swiftly" to replace two independent board members who resigned in the last few months, one of them citing allegations of political influence in the CEO succession plan.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.