Vale threatens legal action against former board member

Mining company Vale has issued an extrajudicial notification to Marcelo Gasparino, a former member of its Board of Directors, threatening both civil and criminal legal action.

The company accuses Gasparino of the “deliberate leak of confidential information” and publishing untruthful accounts regarding internal disputes. These disputes originated in June when Previ, the pension fund for Banco do Brasil employees and a major Vale shareholder, sought the removal of the then-Chairman of the Board, Daniel Stieler. Gasparino had opposed this movement during board discussions.

Following an investigation by an external law firm, the board approved Gasparino's removal for leaking sensitive data. Gasparino resigned from his position on July 27, prior to a formal shareholder vote on his dismissal. Vale stated that the notification follows public statements by Gasparino that allegedly distort reality and damage the company's reputation and the honor of its administrators and employees.