Posted on 05 Mar 2019
Vale has temporarily removed a number of executives from their roles and appointed a new interim chief executive for the group. The move is linked to the ongoing investigation into the collapse of Dam I of the Córrego do Feijão mine.
The new interim ceo has been named as Eduardo Bartolomeo, replacing Fábio Schvartsman. “The choice of Eduardo Bartolomeo, Vale's most experienced Executive Director and with a solid career inside and outside the company, followed the company's succession process in accordance to the interim succession plan previously discussed by the Board of Directors,” Vale explains in a note seen by Kallanish.
“The choice is aligned with the goal of bringing a senior executive to ensure stability to Vale's operations, continuity of the indemnification process, repair and mitigation of the effects of the rupture of Dam I of the Córrego do Feijão mine,” the firm continues.
Other executives temporary removed from their role include Gerd Peter Poppinga (Executive Director of Ferrous and Coal), Lucio Flavio Gallon Cavalli (Head of Planning and Development of Ferrous and Coal) and Silmar Magalhães Silva (Head of Operations of the Southeast Corridor).
“Vale seeks a transparent and productive relationship with the Brazilian authorities in order to clarify the facts, to properly remediate the damages and to maintain the company's integrity,” Vale says.
