Vale chairman Stieler pushed out by pension fund

Reuters | July 6, 2026 | 4:40 pm Top Companies Latin America Copper Iron Ore Nickel Zinc

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Brazilian miner Vale said on Monday chairman Daniel Andre Stieler resigned from the role and from his seat on the board of directors, starting immediately.

The resignation came after pension fund Previ pushed Vale to call a shareholder meeting to vote on his removal. The meeting was scheduled for July 22.

Following the resignation, Vale canceled this agenda item of the shareholder meeting, the miner said in a securities filing.

Vale board resists shareholder’s bid to oust chairman

The remaining subjects of the meeting, which include the election of a new chairman, remain unchanged for deliberation by the shareholders, Vale said.

Previ, which manages pensions for employees of state-run lender Banco do Brasil BBAS3.SA and has a 7% stake in Vale, has supported current board member Manuel Oliveira as chairman.

Stieler was Vale’s chairman since 2023, and a board member since 2021.