According to a report by the Brazilian newspaper O Globo, a consulting firm hired by mining company Vale to assist with its chief executive succession process has presented its board of directors with a list of 15 potential candidates for the top job.
The consulting firm, Russell Reynolds, has reportedly recommended executives from large Brazilian companies, including:
Francisco Gomes Neto, CEO of Embraer
Gustavo Werneck, CEO of Gerdau
Cristiano Teixeira, CEO of Klabin
The list also includes Pedro Parente, who previously led Brazil’s state-run oil company Petrobras, as well as executives from other major Brazilian and international firms such as Volkswagen, Anglo American, and Engie Brasil.
Vale, one of the world’s largest iron ore miners, expects to announce its new CEO by early December to replace the outgoing Eduardo Bartolomeo. In a securities filing, the company confirmed that Russell Reynolds’ advice on the CEO succession plan is ongoing, but the board of directors has not yet decided on a final list of candidates.
This development comes after Vale pledged last week to “proceed swiftly” to replace two independent board members who had recently resigned, with one citing allegations of political influence in the CEO succession process.
The recommended candidates represent a diverse pool of experienced business leaders from various industries, suggesting Vale is conducting a thorough search to find the right person to lead the company forward.