The succession process at the mining company Vale was affected by manipulation, conflicts of interest, and personal agendas of its participants, said José Luciano Duarte Penido in his resignation letter to the company's board of directors. According to him, there is "nefarious political influence" in the debate.
Of the 13 board members, Penido and Paulo Hartung voted against the solution for the succession of Eduardo Bartolomeo as president of the company, in a process that took on political overtones after pressure from President Luiz Inácio Lula da Silva (PT) to appoint former minister Guido Mantega.
"A majority was formed in the board cemented by specific interests of some shareholders represented there, by some with very personal agendas, and by others with evident conflicts of interest," says Penido's letter, obtained by Folha.
He did not mention names, but the proposal for Bartolomeo's replacement was supported by Previ, the pension fund for Banco do Brasil employees. On another front, Cosan tried to appoint its former president Luiz Henrique Guimarães.
Penido complained about "frequent, detailed, and tendentious leaks to the press, clearly disregarding confidentiality."
In a statement, the company said that "the board of directors will continue to perform the actions provided for in Vale's governance processes and carry out its mission diligently."