Connect to share and comment

Brazil. Russia. India. China. Four rising powers. One blog to explain them all.

New leader named for Brazil Mining giant

Candidate is reportedly President Dilma Rousseff’s choice

Brazil’s mining giant Vale was privatized in 1997 but that hasn’t stopped Brazil’s president from reportedly forcing out the company’s CEO, and working to install someone who will hew closer to the government’s wishes. Brazilian media are reporting the candidate nominated to take over as CEO, Murilo Ferreira, is Dilma Rousseff’s first choice. The board of Vale is expected approve Ferreira’s nomination on Thursday. The government’s principal beef with the old CEO, Roger Agnelli, was his reported reluctance to invest extensively in steel production in Brazil. The government wants the phenomenally-profitable company to focus on investments to boost industrial production in Brazil, not abroad. Ferreira appears to have a good reputation, but many local and foreign analysts, the Financial Times and the Economist among them, say that the government’s interference is worrying.

http://www.globalpost.com/dispatches/globalpost-blogs/bric-yard/new-leader-named-brazil-mining-giant

.

Featured Slideshow

The 2013 World Press Photo Awards

Culled from more than 100,000 submissions, these photos represent the best in photojournalism from the past year.