By Brazil Stock Guide – Vale SA (B3: VALE3; NYSE: VALE) named Reinaldo Duarte Castanheira Filho vice chairman of its board and appointed Wilfred Theodoor Bruijn as lead independent director, according to a company filing released Thursday.
The changes will take effect Aug. 1 and remain valid until the end of the board’s current term, the Brazilian mining company said.
Castanheira Filho, an independent director, was elected vice chairman by Vale’s board. Bruijn, also an independent director, was selected by the board’s independent members to serve as lead independent director.
The appointments were made under Article 11, paragraphs 6 and 8, of Vale’s bylaws. The company did not announce other changes to the board’s membership or the duration of its current mandate.
Vale said the updates reinforce its commitment to corporate governance, transparency and sustainable value creation for shareholders and other stakeholders.
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