Vale Minority Shareholders Elect Independent Member to Board

The company said it has created a special directorship responsible for overseeing the repair and development of the area impacted by the collapse of the Brumadinho dam in Minas Gerais.

(Video: Brumadinho dam disaster occurred on January 25, 2019 - Dam owned by Vale)

By Reuters

RIO DE JANEIRO, BRAZIL - Minority shareholders of Brazilian iron ore miner Vale SA succeeded in electing a representative to the board of directors at the company's shareholder meeting on Tuesday, a person who attended the meeting told Reuters.

Independent member Patricia Bentes was elected under a new cumulative voting system instead of a single vote to approve all names proposed by controlling shareholders.

Broker Vic DTVM and fund Geração Futuro Lpar proposed Bentes, who shut out Clarissa Lins, the candidate presented by controlling . . .

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