In an interview with “RedeTV!”, the president said he would not discuss the company's succession, but that everything must be in line with the government's thinking.
The president Luiz Inácio Lula da Silva (PT) stated on Tuesday (26.Feb.2024) that Vale, and all Brazilian companies, must follow the government's thinking for the country's development. In an interview with “TV network!”the president said he did not discuss the company's succession.
“Vale cannot think that it owns Brazil. She cannot think that she can do more than Brazil. So, what we want is the following: Brazilian companies need to be in agreement with the Brazilian government's development thinking. That’s all we want”he stated.
Lula is trying to establish a name closer to Planalto as CEO of Vale. The government pressed for the chosen one to be the former Finance Minister, Guido Mantega, but backed down after the negative reaction from shareholders and the market.
The president of OKEduardo Bartolomeo, said on Friday (Feb 23) that he trusts the company's Board of Directors to decide whether or not he will be reappointed to the position.
The term ends in May. The Board of Directors is divided over his reappointment. On the 5th (Feb 22), the board met to discuss the mining company's accounting balance. The discussion about the new CEO was one of the possible topics of the meeting.
The possibility of Bartolomeo's reappointment comes up against the lack of interest of some shareholders, especially the Predictpension fund of Bank of Brazil.
Lula once again criticized the mining company in the interview on Tuesday (Feb 26), saying that it does not use the mines it has and is losing out in competition to Australian companies.
“What we want is for Vale to have more responsibility, including the number of mines that are in Vale's hands and that it has not explored for over 30 years and is operating as if it owned and sold. Vale, lately, is selling more assets than producing iron ore. And it is losing the game to some Australian companies. So, what we want is to have a new mineral policy.”
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