Vale board votes against Previ bid to remove chairman Stieler, Bloomberg News reports (updated)

Vale

22/06/2026 03:14

Adds details and background in paragraphs 2 and 4-6

    June 21 (Reuters) - Brazilian miner Vale's VALE3.SA board has voted against a proposal by major shareholder Previ to remove Chairman Daniel Andre Stieler, Bloomberg News reported on Sunday, citing people familiar with the matter.
The majority of directors viewed the reasons given by pension fund Previ for the dismissal as insufficient, the report said, citing two of the sources.
Reuters could not immediately verify the report. Vale and Previ did not immediately respond to Reuters' requests for comment outside business hours.
Earlier this month, Previ had proposed appointing Jose Mauricio Coelho to Vale's board and backing current board member Manuel Oliveira as chairman.
The board is also expected to nominate former BP BP.L executive Ieda Gomes Yell to run for a vacant seat against Coelho, the Bloomberg report said.
Previ holds about a 7% stake in Vale, according to regulatory documents. 

 (Reporting by Bipasha Dey in Bengaluru; Editing by Subhranshu Sahu)
 ((Bipasha.Dey@thomsonreuters.com;))