Vale CEO resigns after Brazil dam collapse

RIO DE JANEIRO, March 3– Chief Executive officer of Vale Fabio Schvartsman resigned on Saturday as the iron-ore producer came under pressure for the dam collapse in Brazil’s southeast Minas Gerais state that killed 166 people.
His resignation followed an investigation into the disaster. Other 13 staff members of the company, which owns the dam, were also asked to leave.
Schvartsman said in the letter to the company’s board that his “temporary removal from office” was “for the benefit of the continuity of the company’s operation and support for victims and their families.”
Brazilian authorities on Jan. 29 arrested three Vale employees and two subcontracted engineers for licensing the tailings dam or signing documents on its safety. Eight more employees were arrested on Feb. 15.
The dam collapse has left at least 166 dead and 155 missing, besides causing an environmental disaster. – XINHUA