VALE Moves Above 50-Day SMA on CEO Appointment: Time to Buy the Stock?

Vale S.A. (VALE) shares have gained 2% following the announcement on Aug. 26 that its current chief financial officer, Gustavo Pimenta, will take over the reins of the company as the next CEO. He will replace Eduardo Bartolomeo, whose term ends on Dec. 31, 2024. Pimenta has been VALE's chief financial officer since 2021. He was chosen over 14 external candidates identified by a consulting firm entrusted with the headhunting process. This wraps up a tumultuous succession process marred by government interfer ...