Former Finance Minister, Guido Mantega is considered by the Lula government to join Vale's Board of Directors
The Minister of Mines and Energy, Alexandre Silveira, said this Thursday (18.jan.2024) that it is a “injustice” say that the former Minister of Finance, Guido Mantega, would not be qualified to hold executive corporate positions – in reference to the Board of Directors of OK.
Silveira defended the government's participation in debates regarding the mining company. The minister's statement was given to journalists at the World Economic Forum in Davos, Switzerland. The information was released by Economic value.
The minister did not deny that Mantega was being considered for Vale, but said that the conversation about the name was still speculation.
“Mantega is the longest-serving Minister of Economy in the history of the Republic. He is someone extremely prepared, a university professor, who meets all the conditions to take on an executive position”he said.
UNDERSTAND
The president's government Luiz Inácio Lula da Silva (PT) is working to have the former Minister of Finance, Guido Mantega, join Vale's Board of Directors. According to the Power360the request was made by Lula and the one with the demand is the Ministry of Mines and Energy, led by Silveira.
Affiliated to the PT, Guido Mantega was Minister of Finance from 2006 to 2015, during the Lula and Dilma Rousseff, both from PT. He was also Minister of Planning, from 2003 to 2004, in the 1st PT government.
If approved for Vale's Board of Directors, Mantega will have an annual remuneration of R$ 112 thousand monthly. This is the average amount paid to the company's 13 directors. Most of them are independent, but 4 are nominated by large shareholders and 1 by mining company employees.
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