The term of the current president of the mining company would end in May this year; The council’s decision was not unanimous
The board of directors of OK decided, at the meeting on Friday 8th, to renew the contract of its CEO, Eduardo Bartolomeo, until December 2024, according to people familiar with the discussions. The mandate would end in May. A company will be hired by the end of the year to look for three candidates for successors, and Bartolomeo will help with the choice.
He will also transition the position by March next year and remain as a consultant until December.
His participation in the succession process was one of the conditions posed by executives opposed to the change of president of the company, which occurred a few weeks ago, when the board was divided on the issue. Bartolomeo is considered a good technical team, respected by the market and highly efficient from a technical point of view.
The decision taken this Friday, in a meeting that lasted all day, was not unanimous. The score was divided between 11 votes for the exchange and two for the stay. Now a headhunting company, whose name has not yet been defined, will be hired to search the market for three recommended executives to fill the role.
Long-term investors have opposed the stock market because they believe the headhunting firm could be “giving technical approval to a pick that has already been made.” We tried to keep Bartolomeo in command, without any imposition. However, according to those who followed the conversations, the executive’s participation in the succession process reduced resistance.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
