Business & Finance
Brazil's Vale approves new three-year term for CEO Bartolomeo
- Vale also appointed Maria Luiza de Oliveira Pinto e Paiva as executive director of sustainability.
- In the filing, Vale said the terms of office of the new executives was increased to three years from two years at a March 12 shareholders meeting.
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SAO PAULO: Vale said the Brazilian miner's board approved the re-election of current CEO Eduardo da Silva Bartolomeo to serve a new three-year term, according to a securities filing on Tuesday.
The company also said Legal Director Alexandre D_Ambrosio would move to the position of executive legal director, while Peoples Director Marina Barrenne Quental will become a member of the executive directors' board.
Vale also appointed Maria Luiza de Oliveira Pinto e Paiva as executive director of sustainability.
In the filing, Vale said the terms of office of the new executives was increased to three years from two years at a March 12 shareholders meeting.
The change aims at provide greater stability to management, the filing said.