Brazilian mining giant Vale faces regulatory scrutiny over chairman’s severance compensation
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Earlier, media reports stated that the company’s board chairman’s resignation agreement this week included a compensation arrangement. Vale admitted that the company agreed to pay the outgoing chairman in exchange for signing a confidentiality agreement, rather than any severance pay. After the resignation was announced, a minority shareholder requested that the Brazilian Securities Regulator (CVM) investigate the specifics of Stieler’s departure. Expand
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