The Wall Street Journal: Vale CEO, other top execs step down amid Brazil dam-disaster investigation

SÃO PAULO — Vale SA Chief Executive Fabio Schvartsman and other top executives of the Brazilian mining giant stepped down following pressure from authorities in the first sign investigators are zeroing in on the company’s leadership after the deadly collapse of one of its dams.

The move came after Brazilian state and federal prosecutors, as well as the police, issued a joint recommendation to Vale’s board, advising the company to immediately remove Schvartsman and other executives from their posts. They also told the board to ban them from the company’s premises and prohibit other employees from discussing work matters with them.

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