Vale SA, one of the world’s largest mining companies, has appointed its Chief Financial Officer, Gustavo Pimenta, as the new CEO, succeeding Eduardo Bartolomeo. The selection process encountered significant delays and controversies, leading to the resignation of two independent board members due to concerns over political interference. Brazilian President Luiz Inácio Lula da Silva allegedly lobbied for former Finance Minister Guido Mantega, exacerbating tensions. Despite these challenges, Vale chose to promote internally, with Pimenta set to start in January 2025. Previous CEO Bartolomeo will stay as an advisor until December 2025 to ensure a smooth transition.
Mining, Finance, Energy, Executive Search,Brazil, Global
https://mergersacquisitions.einnews.com/article/738890750/z3N5aW6qPCOSK5L5?ref=rss&ecode=Q1vNcweEggLWKz7L