Gustavo Pimenta was elected as CEO of Vale by the board of the company, ending a troubled process where the country’s president, Lula da Silva, tried to indicate the former minister, Guido Mantega, for the position.
Today, Pimenta is the CFO of Vale and he will assume the new position on January 1, 2025, while the current CEO, Eduardo Bartolomeu, remains in office for the rest of the year.
Daniel Stieler, the president of Vale’s board, declared: “We are very happy and confident with the selection of Gustavo Pimenta to lead Vale. He gathers the necessary skills so that we can aspire a new virtuous cycle for the company, guided by our purpose, and with great potential for value creation for all our stakeholders. The succession process proved the high level of integrity, transparency and robustness of Vale’s governance.”
From his side, Pimenta declared: “Let's go together on this journey, intensifying the dialogue with all our stakeholders and prioritizing the safety of people, our operations and the environment. I am sure that we will continue to advance in our mission, focusing on creating and sharing value, taking Vale to even higher levels.”
In the process of ending a period of fears from political interference, the price of shares for Vale have increased by more than two percent in the São Paulo Stocks exchange.