Vale chairman Daniel Stieler has resigned from his role and from the company's board, effective immediately. The resignation came after the Previ pension fund, which holds a 7% stake in Vale, pushed for a shareholder meeting to vote on his removal and supported current board member Manuel Oliveira as chairperson. Stieler had led Previ under Brazil's former president Bolsonaro and held the chairman position for three years, with a mandate set to expire in April 2027, but his influence had been waning since the fund's leadership was reshuffled in recent months.
Vale SA ADRChairman resignation amid board turmoil and push from major shareholder Previ creates governance uncertainty.