Markets · Brazil · Corporate Governance
— Key Facts
—The shift. Previ, Brazil’s largest pension fund and a 7% owner of Vale, says it will no longer try to pick the chairman of the world’s biggest iron-ore miner.
—On the record. “We will make no further nomination for the role of chairman,” investment director Adriana Chagastelles told Bloomberg on June 22.
—Still pushing the vote. The fund is keeping its demand for a July 22 shareholder meeting to remove current chairman Daniel Stieler, whose term runs to April 2027.
