Brazil's Vale confirms removing CEO, appointing successor

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Brazil's Vale SA, the world's largest iron ore miner, has accepted the...

FILE PHOTO - Vale S.A. CEO Fabio Schvartsman gestures during a session of the external commission of Brumadinho at the Chamber of Deputies in Brasilia, Brazil February 14, 2019. REUTERS/Ueslei Marcelino/File Picture

RIO DE JANEIRO - Brazil’s Vale SA, the world’s largest iron ore miner, has accepted the resignation on a “temporary” basis of Chief Executive Fabio Schvartsman, the company said on Saturday, confirming earlier news reports. Taking his place will be Eduardo Bartolomeo, the company’s chief executive of base metals, the firm said in a securities filing.

 

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