Ferreira Steps Down as Vale CEO; Political Meddling Concerns Us, but Capital Allocation Unaffected
Vale announced that Murilo Ferreira will be stepping down as CEO after his contract expires May 26, 2017. It appears that there was political maneuvering involving the Brazilian government, which effectively controls the company through Valepar, the investment entity that controls more than 50% of Vale. This is the second time the Brazilian government has been involved in changing Vale’s leadership. In 2011, the Brazilian government organized the ousting of then-CEO Roger Agnelli to be replaced ...
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