CSN appoints Fabio Schvartsman as new CEO

Companhia Siderúrgica Nacional (CSN) has appointed Fabio Schvartsman as its new Chief Executive Officer, effective September 3, 2026. Schvartsman, the former president of Vale, succeeds Benjamin Steinbruch, who led the company for 24 years. Steinbruch, a controlling member of the group, will transition to the role of Chairman of the Board of Directors.

This leadership change marks the first time in decades that an outsider has been appointed to lead the company, which is controlled by the Steinbruch family. The transition comes as CSN undergoes a financial reorganization aimed at reducing debt through asset negotiations. Following the announcement, CSN shares rose by 20% in São Paulo, marking their highest intraday gain since March 2020.

In Volta Redonda, where the company’s main steel unit is located, local political leaders have expressed expectations for the new management to balance economic goals with social and environmental responsibilities. While the leadership shift is a major corporate milestone, it occurs alongside a separate Federal Police investigation into alleged irregularities in environmental licensing in Rio de Janeiro, though CSN has not been accused of wrongdoing in that specific probe.