CSN Names New Chief Executive in Brazil
Brazilian steelmaker CSN has a new chief executive, Fabio Schvartsman. Separately, federal police say they found indications that Rio state officials may have interfered in procedures involving the company. No one has been charged over that, CSN declined to comment, and the officials named deny wrongdoing. The post CSN Names New Chief Executive in Brazil appeared first on The Rio Times .
Brazil's largest steelmaker, CSN, has appointed new CEO Fabio Schvartsman as of September 3, 2026. Schvartsman, who previously led Vale from 2017 to 2019, replaces Benjamin Steinbruch, who stepped down after 24 years at the helm. Steinbruch will now serve as board chair once again.
The appointment of Schvartsman comes amid allegations by Brazil's Federal Police that state officials may have interfered in CSN's administrative procedures. CSN is not accused of wrongdoing in the police file, but the allegations could impact its reputation and stock price. The investigation, called Operação Sem Refino, is part of a broader probe into alleged fraud in environmental licenses for the Refit refinery in Rio de Janeiro.
The police found messages suggesting state officials may have influenced CSN's environmental liabilities and administrative procedures. Both Bernardo Rossi, then state environment secretary, and Renato Bussière, then Inea president, deny any wrongdoing. Bussière claims Inea never issued an operating license to CSN.
Brazil's Supreme Court justice Alexandre de Moraes released part of the police findings. Schvartsman, a seasoned executive, will take over CSN with the company named in a police file where it is not accused of wrongdoing. The leadership change occurs at a turbulent time for the company, but the board remains focused on supporting Schvartsman as he navigates the situation.
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