New Vale (VALE) CEO May Be Tito Martins Says Local Media

Local Brazilian newspaper, Folha de S.Paulo, reported Vale (NYSE:VALE) will have a new CEO named by Friday, with the name Tito Botelho Martins being identified as the person getting the job.

The newspaper didn't reveal the source they received the information from.

Removing Agnelli could actually be a disaster for the company, as he has helped the company grow exponentially during his tenure, and is only be pressured to be removed because of the socialist Brazilian government which is attempting to tell him how to use the capital of the company.

The government of Brazil has been attempting to remove Agnelli for years, alleging he isn't doing enough for the economic development in Brazil. They want him to use company money to invest in steel mills and infrastructure.

Brazil's government formerly ran Vale as a state-owned business, and apparently still considers itself such, even though they are supposed to be out of the picture.

This will create doubt in investors' minds as to whether they can trust investing in the company if the government is allowed to remove a highly successful leader like Agnelli because he does what's best for the company, its shareholders and its workers.

Vale closed in New York at $32.92, falling $0.05, or 0.15 percent.

Vale (VALE) Chairman Also Under Attack from Government of Brazil

The interference in Vale S.A. (NYSE:VALE) by the government of Brazil has expanded in its quest to oust CEO Roger Agnelli, as they're now also seeking to rid the company of chairman Ricardo Flores, as it attempts to force the company into getting in line with so-called national interests.

That's another way of saying they want to use the earnings of the company as the personal piggy bank of the government, as with most governments around the world, it refuses to employ austerity measures and limit its size, which is what is needed more than anything else to ease the pressures on sovereign debt, which has come about from governments playing god and making promises they can't keep because they aren't sustainable financially.

Government officials have attempted to influence the direction of the company in the past, telling leaders where they should invest capital, such as in infrastructure and steelmaking.

Infrastructure is of course another way of saying government pet projects.

In the case of steelmakers, that would create a conflict of interest with clients they work with, creating a potentially volatile situation, something the Brazilian government apparently cares little about.

Vale was trading at $32.89, up $0.68, or 2.11 percent, as of 12:10 PM EDT.

Vale (VALE) CEO Under Fire from Meddling Brazilian Government

The government of Brazil is reportedly interfering in giant miner Vale's (NYSE:VALE) inner workings, as they attempt to have CEO Roger Agnelli removed from his position, according to media outlets in the country.

Brazil's government has attempted to force Agnelli out for years, accusing him of not doing enough to boost the economic development of the country; something only a socialist would accuse Agnelli of doing, as a business doesn't exist for the purpose of increasing the economic condition of a country, but to be profitable.

When it focuses on generating profits, the economic boost will come on its own, not the other way around.

Apparently this has reached beyond the past pressures of the government of attempting to remove Agnelli, to having already deciding that and are now looking for a replacement for him, according to the newspaper O Estado de S. Paulo.

While officially the government isn't allowed to fire Agnelli, they can unofficially work behind the scenes, as they have been doing, to influence the decision by bringin other major shareholders on board for the decision and action.

Vale S.A. closed Monday at $32.21, down $0.13, or 0.40 percent.