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Suzano CEO under consideration to lead Vale

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Walter Schalka, CEO of pulp manufacturer Suzano, has been sounded out by a headhunter to lead mining company Vale, Valor has learned. Mr. Schalka is leaving Suzano to join the pulp giant’s board.Mr. Schalka is highly respected by several board members of the mining company, who advocate for his consideration for the position. Discussions within Vale’s board on the CEO succession came to a standstill on February 15, and since then an agreement has been sought.The parties are expected to reach an agreement on the issue at the board meeting scheduled for Friday, according to two sources.Although the succession issue is not on the agenda for the meeting, it may be discussed. The directors have to decide whether to reappoint the current CEO, Eduardo Bartolomeo, or start a competitive process with three names selected by a headhunter. Mr. Bartolomeo’s term expires on May 26.The current CEO is seeking another term but encountering resistance from a faction of the divided board. Some directors believe Mr. Bartolomeo should not be reappointed, although a decision has not yet been reached.If the choice comes down to a triple list, the executive’s name will be included, people close to the matter say. On February 15, the meeting ended in a tie, with six votes in favor of Mr. Bartolomeo and six in favor of a triple list. There was also an abstention from Luís Guimarães, who Cosan nominated.Mr. Guimarães, a trusted executive of businessman Rubens Ometto, a Vale shareholder, could also make up the triple list. The businessman...

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