Vale: Previ would support Manuel Oliveira as chairman, position currently held by Stieler

Vale is reportedly considering a leadership transition at the board level, with Previ, the company’s pension fund and a major shareholder, indicating support for Manuel Oliveira as chairman. Oliveira, currently serving as Lead Independent Director and a member of the Audit and Risks Committee and Sustainability Committee, has extensive experience in mining, finance, and corporate governance. He has held leadership roles on multiple international boards and brings a strong background in risk management, ESG, and institutional relations.

The current chairman, Stieler, has not yet announced plans for stepping down, and no formal announcement has been made regarding the board’s next steps. However, Oliveira’s potential elevation reflects a broader reshaping of Vale’s governance structure, which has seen recent changes following a turbulent succession process for the CEO role. Paulo Hartung and Oliveira himself have reportedly indicated their intention to leave the board due to disagreements over the company’s direction.

Vale’s board will undergo a full election in April 2025 for the 2025–2027 term, and interim appointments are expected in the coming months. The company has emphasized that proposed board members must align with its internal governance framework.