Political lobbying as much as boardroom maneuvering could determine who wins the race to become the next boss of Vale, the world’s No. 2 iron-ore producer.
Brazilian President Luiz Inacio Lula da Silva wants the top job for his staunch ally — and former finance minister — Guido Mantega when CEO Eduardo Bartolomeo’s term expires in May, according to people familiar with the matter. Lula might also back Bartolomeo for another shorter stint, if that smooths the way for Mantega to be appointed to Vale’s board, preferably as chairman, the people said, asking not to be identified as the matter is private.
