Vale’s CEO is Removed From Post After Brumadinho Tragedy

Despite announcing it as a ‘temporary removal’ local media is reporting that Schvartsman has already written his resignation letter.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Vale's president, Fabio Schvartsman, and three directors of the Brazilian mining giant were temporarily removed from the company’s administration on Saturday, according to Vale’s Board of Directors. The removal were announced after the Federal Public Ministry recommended the actions.

Vale also informs that its Board of Directors remains in readiness to seek 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, and that will keep society and markets informed . . .

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