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DewDiligence

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DewDiligence

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Re: DewDiligence post# 14338

Saturday, 02/25/2017 12:11:03 PM

Saturday, February 25, 2017 12:11:03 PM

Post# of 29306
VALE’s CEO forced out:

https://www.wsj.com/articles/vale-ceo-murilo-ferreira-to-step-down-in-may-1487942519?tesla=y

Brazilian mining giant Vale SA said Friday its chief executive plans to step down when his term ends in May, amid widespread reports of pressure to replace him with a political appointee. Vale CEO Murilo Ferreira won’t renew his contract when it expires on May 26, after six years on the job, the company said in a press release. No reason was given for the decision.

Murilo was himself a political appointee inserted into the CEO slot at the start of Dilma Rousseff’s presidency in 2011.

A consortium led by the federal government of Brazil owns a majority of VALE’s voting shares, so the government can have its way when it comes to selecting management.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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