Vale appoints new CEO, completes Moatize coal mine sale to Mitsui

摘要

Vale SA said March 27 that its board has appointed Fabio Schvartsman as the new CEO, replacing Murilo Ferreira. Schvartsman was CEO of Telemar Participações and of San Antonio International and has been the CEO of paper producer Klabin since 2011. Previously, major private-sector shareholders in Vale were looking to extend Ferreira’s term for another two years to fend off political pressure within Brazil to tap someone else for the role.