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Vale shareholders push to loosen company control over board elections

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Minority shareholders of Brazilian iron ore miner Vale SA have enough votes to r...

FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves/File Photo

Broker Vic DTVM and fund Geracao Futuro Lpar proposed Patricia Bentes as an independent member, challenging a list of 13 candidates presented by the company’s controlling shareholders. In March, Vale proposed enlarging its board by adding one independent member two months after nearly 300 people died in a mining dam operated by the company.

 

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