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Consultancy recommends Vale 15 candidates for CEO position, newspaper says
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Consultancy recommends Vale 15 candidates for CEO position, newspaper says
Jul 9, 2024 10:58 AM

SAO PAULO, July 9 (Reuters) - A consulting firm hired by

Vale to help it with its CEO succession process has

presented the Brazilian miner's board of directors with 15

potential candidates, local newspaper O Globo reported on

Tuesday.

Among those suggested by Russell Reynolds for Vale's top job

are the heads of big Brazilian firms, the report said, naming

Embraer's ( ERJ ) Francisco Gomes Neto, Gerdau's ( GGB )

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 in

replacement of Eduardo Bartolomeo, whose term ends this year. He

will support the transition until February 2025.

Russell Reynolds' list, O Globo said, also included Pedro

Parente, who led Brazil's state-run oil giant Petrobras

from 2016 to 2018 and served as former President

Fernando Henrique Cardoso's chief of staff.

Other names listed were those of Volkswagen America

head Pablo Di Si, Anglo American's Ruben

Fernandes, Equatorial's Carlos Piani and Engie

Brasil's Mauricio Bahr, the report added.

Vale did not immediately respond to a request for comment.

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.

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