CEO of Brazil's Vale SA steps down after mine dam disaster

Published March 03, 2019

Brazilian mining Giant Vale SA says chief executive officer Fabio Schvartsman and three other senior executives have stepped down in the wake of a mining dam collapse that killed at least 186 people.

The mine owned by Vale burst Jan. 25 in the town of Brumadinho.

Vale said in a Saturday night statement that its board of directors had immediately accepted the resignation requests tendered by the four executives after prosecutors recommended their removal.

Besides Schvartsman, Gerd Peter Poppinga, Lucio Flavio Gallon Cavalli and Silmar Magalhaes Silva also stepped down.

Vale appointed its executive director of base metals, Eduardo de Salles Bartolomeo as interim CEO.

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