About five weeks after the devastating dam failure at a mine of the iron ore producer Vale in Brazil, the CEO and other executives resigned. The company spoke of a farewell until further notice. The Board of Directors immediately accepted the resignation of Chairman Fabio Schvartsman.
Previously, the prosecutor recommended that the company dismiss him and other high-ranking employees. In January, more than 300 people were killed and large amounts of toxic sludge released during the dam failure at a retention basin in the state of Minas Gerais.
Recently there were increasing indications that the Brazilian group knew of an increased risk of breakage. In addition, inspectors have felt pressured to classify the building as safe. The German TÜV Süd had tested the dam in August 2018 and suggested stabilization measures. Only four years ago, the breakup of a dam operated by Vale had caused a major environmental catastrophe in Brazil.
