Board to decide Vale’s presidency this week

The board of Brazilian miner Vale has postponed the decision regarding the appointment of the company’s new president this week.

This comes after an “extraordinary” meeting held on Friday failed to reach a final decision, as reported by Notícias de Mineração Brasil.

According to the publication, the councilors reviewed a report on the performance of the current president, Eduardo Bartolomeo, and recommended that the selection be made from a shortlist that includes Bartolomeo.

Internally, potential candidates for the position still being considered include former Vale president Murilo Ferreira.

Executive Luis Henrique Guimarães from Cosan Group, the producer of bioethanol, sugar and energy, is also among those considered to take over leadership of the mining company.

His name is supported by Rubens Ometto, owner of Cosan, which acquired a stake of around 5% in Vale in 2022.