Vale gains on report Schvartsman to be named CEO, moving from Klabin

Mar. 27, 2017 4:09 PM ETVale S.A. (VALE)VALE, KLBAYBy: Carl Surran, SA News Editor10 Comments
  • Vale (NYSE:VALE) recovered from a hefty loss to a modest gain (+0.4%) during the final hour of trading following a report that current Klabin (OTCPK:KLBAY) CEO Fabio Schvartsman would replace Murilo Ferreira as CEO starting May.
  • The news appeared in a column by Sonia Racy on the website of the O Estado de S. Paulo newspaper.
  • Schvartsman “is one of the pillars of Klabin’s growth strategy" over the years, highly experienced and market-oriented, says Vitor Suzaki, an analyst at Lerosa Investments.
  • Source: Bloomberg First Word

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