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Over the weekend we had this news from VALE:
Vale SA (VALE5)’s longest-serving executive director, ferrous business head Jose Carlos Martins, is leaving the world’s top iron-ore producer after prices for the steelmaking material fell to five-year lows.
Martins, 64, left the company to pursue new challenges and is being replaced by base-metals head Peter Poppinga, Rio de Janeiro-based Vale said in a statement yesterday. The changes take effect immediately.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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