financetom
Business
financetom
/
Business
/
Brazil's Vale will keep Bartolomeo as CEO until end of 2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil's Vale will keep Bartolomeo as CEO until end of 2024
Mar 8, 2024 5:49 PM

SAO PAULO, March 8 (Reuters) - Brazilian miner Vale says

it will retain Eduardo Bartolomeo as CEO through 2024, a source

familiar with the matter said on Friday.

Bartolomeo, whose term was due to end May 26, first assumed

the role as Vale's CEO on an interim basis in 2019, leaving his

position as the company's base metals director in Canada after

the departure of then CEO Fabio Schvartsman, who headed the

company when the Brumadinho dam disaster occurred.

He was later appointed to the post after taking part in

a process with other company executives.

The move to retain Bartolomeo comes amid government

criticism of Vale's management which had signaled that it would

seek to influence the choice of a new CEO.

In January, Brazilian President Luiz Inacio Lula da

Silva tried to pressure the firm into making his former Finance

Minister Guido Mantega its CEO.

Although Vale was privatized over 25 years ago, the

government has continued to exert pressure at times through

public-sector pension funds with influence on the miner's board

of directors.

After the Brumadinho disaster in January 2019, where one

of Vale's dams collapsed and left 270 dead and ravaged nearby

forests, rivers and communities, Bartolomeo led the

implementation of processes to improve safety at the company's

facilities, such as a plan for decommissioning dams at higher

risk.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
South Korea to ask Telegram, other social media firms to help tackle digital sex crimes
South Korea to ask Telegram, other social media firms to help tackle digital sex crimes
Aug 27, 2024
SEOUL, Aug 28 (Reuters) - South Korean authorities said on Wednesday they plan to ask Telegram and other social media platforms to more actively help with the deletion and blocking of sexually explicit deepfake content, part of measures aimed at tackling the growing problem. The steps come amid public and political outrage after several domestic media outlets reported that sexually...
Why Paramount Global Shares Are Declining Today
Why Paramount Global Shares Are Declining Today
Aug 27, 2024
Shares of Paramount Global Inc. are trading lower Tuesday, following news that the company's “Go-Shop” period ended without a successful acquisition bid. What To Know: Edgar Bronfman Jr., who had previously led a consortium of investors in a bid to acquire Paramount’s parent company, National Amusements, withdrew his proposal. This withdrawal paves the way for the $8.4 billion merger between...
Delaware top court will hear drugmakers' appeal to end Zantac lawsuits
Delaware top court will hear drugmakers' appeal to end Zantac lawsuits
Aug 27, 2024
Aug 27 (Reuters) - Delaware's highest court said on Tuesday it will hear an appeal by GSK and other drugmakers seeking to end more than 70,000 lawsuits claiming discontinued heartburn drug Zantac caused cancer. GSK, Pfizer ( PFE ), Sanofi and Boehringer Ingelheim are asking the court to overturn an order by a lower court judge allowing plaintiffs in the...
Market Chatter: JPMorgan Hires Yang Ruo as Head of China Telecommunications, Media and Technology Team
Market Chatter: JPMorgan Hires Yang Ruo as Head of China Telecommunications, Media and Technology Team
Aug 27, 2024
02:29 PM EDT, 08/27/2024 (MT Newswires) -- JPMorgan Chase & Co ( JPM ) hired Yang Ruo as head of its China telecommunications, media and technology team, Bloomberg reported Tuesday, citing people familiar with the matter. Yang, who will be based in Hong Kong, previously was chief financial officer at Shopline and Xiaohongshu Technology, the report said. JPMorgan ( JPM...
Copyright 2023-2026 - www.financetom.com All Rights Reserved