Vale’s CEO, other executives resign after Brazil dam collapse GlobeBusiness
Vale SA chief executive Fabio Schvartsman, shown here during a session of Brumadinho's external commission at the Chamber of Deputies in Brasilia on Feb. 14, 2019, resigned along with several other senior executives.Brazilian iron ore miner Vale SA chief executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds.
The move comes slightly more than a month after a tailings dam broke at Vale’s Corrego do Feijao mine in the interior Brazilian state of Minas Gerais, likely killing more than 300 people and releasing massive amounts of toxic sludge.It was the second deadly burst at a Vale-linked tailings dam in Minas Gerais in four years.
Earlier this week, newspaper Folha de S.Paulo reported that a Vale manager had told executives the integrity of the structure had worsened, although the company vigorously denied the report. Also resigning were Vale’s head of ferrous minerals and coal, Peter Poppinga, planning director Lucio Flavio Gallon Cavalli and Silmar Magalhaes Silva, the head of a geographic division at Vale.In a letter sent to the board by Mr. Schvartsman and published by newspaper Folha de S.Paulo, in which he asked to be removed from the position of CEO on a “temporary” basis, the executive vigorously defended his conduct.
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