Brazil’s Temer Said to Seek New Vale CEO in Shareholder Talks
- Coincides with talks to renew controlling shareholder pact
- Ferreira exit wouldn’t be welcomed by investors: Votorantim
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Brazil’s government has decided to push for a new chief executive for iron-ore giant Vale SA when the current boss’s contract expires next year, according to people with knowledge of the matter.
President Michel Temer ceded to months of lobbying from members of his own Democratic Movement Party to seek a replacement for Murilo Ferreira, who was appointed when Temer’s predecessor was in power, the people said, asking not to be identified because talks are private. His contract ends at the end of April.