Vale in Talks Over CEO Succession, Decision Expected by May
February 6, 2024
Vale has announced that discussions within its board regarding the extension of the current CEO's tenure or the appointment of a new leader are ongoing, adhering to the company's bylaws. The process, as outlined in a response to an inquiry from the Brazilian Securities and Exchange Commission (CVM) concerning the potential delay in deciding on a new CEO, is set to conclude by May 26 or upon the succession's execution.
The company emphasized that any decision regarding the CEO's position will be communicated to the public in alignment with Vale's internal policies and prevailing legal requirements. This decision will consider the competencies defined in the bylaws, alongside Vale's strategic objectives and forthcoming challenges.
