Global Mining: Former Vale executives seen as potential CEO candidites

Jose Carlos Martins former Vale Director for Ferrous Metals
Former Vale Ferrous & Strategies Executive Director, Jose Carlos Martins

Vale (VALE) CEO Murilo Ferreira is in the cross-hairs of some members of acting President Temer’s Democratic Movement Party, Bloomberg reports.

Temer himself is not believed to be among those calling for Ferreira’s head, but some members of his administration are said to have considered Vale’s response to last year’s tailings dam disaster as tepid in contrast with a more active approach by Australian partners BHP Billiton.

Former Vale executives Jose Carlos Martins and Tito Martins are seen as potential CEO replacements.

Pedro Parente recently began has new job as CEO of state-run Petrobras.

However, Vale is a private sector company, and politicians and executives associated with Vale’s controlling shareholder group want to at least avoid giving the impression of interfering in its affairs.(source: Bloomberg)


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