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CSN leadership transition and debt restructuring

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2026-09-05 19:42 UTC → 2026-09-06 13:04 UTC · added removed

Companhia Siderúrgica Nacional (CSN) has undergone a major leadership transition. Benjamin Steinbruch, who served as CEO for 24 years, is stepping down from the executive presidency to return to the role of Chairman of the Board of Directors. Fabio Schvartsman, the former president of Vale and Klabin, has been appointed as the new CEO, effective September 3, 2026. This 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 occurs as CSN pursues a financial reorganization and deleveraging strategy to reduce its net debt, which reached R$ 42.13 billion in the second quarter. The company aims to reduce debt by an estimated R$ 18 billion to R$ 20 billion through significant asset divestments, including divestments. Under Schvartsman’s leadership, the company is expected to decide on the sale of two major assets in the coming days to address a leverage ratio of 3.49 times. The first involves the potential sale of CSN Cimentos division and various infrastructure for approximately R$ 11 billion, with the Chinese company Huaxin emerging as a frontrunner via a consortium of international banks, though Votorantim and logistics holdings. Following Italy’s Cementir remain in competition. The second pending decision involves the announcement, CSN shares experienced sale of CSN’s steel operations in Germany, a significant surge on move projected to generate R$ 1.5 billion in gains. Market analysts, including BTG Pactual, have reacted positively to the stock market, appointment, noting that Schvartsman’s experience is “well-aligned with intraday gains in São Paulo reaching 20%, marking the company’s highest increase since March 2020. market’s desire for improved capital allocation, leadership clarity, and investor confidence.”

Versions

  1. 2026-09-06 13:04 UTC CSN leadership transition and debt restructuring
  2. 2026-09-05 19:42 UTC CSN leadership transition and debt restructuring

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