Benjamin Steinbruch has stepped down as CEO of Brazilian steel and iron ore producer Companhia Siderúrgica Nacional (CSN) after 25 years in the role.
Steinbruch, the company's main shareholder, will be succeeded by Fabio Schvartsman, former CEO of mining company Vale. Schvartsman led Vale during the period marked by the Brumadinho dam collapse, which caused more than 270 deaths and lead to major environmental damage.
Steinbruch will become chairman of CSN's board and is expected to focus on restructuring the company. CSN faces net financial debt estimated at $8.3 billion, equal to 3.49 times its annual EBITDA. Because of high interest costs, the company's most recent quarterly net profit was posted in the third quarter of 2025.
The company's plan is to reduce burdensome financial leverage like excessive debt, by selling assets in several business areas, including cement and logistics. CSN has also considered selling its steelmaking operations.
CSN has received proposals for its cement business and is currently reviewing them. Offers for the logistics business are expected this week, the company said.
