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 .
, What happened: CSN named Fabio Schvartsman as its new CEO on September 3, 2026., How big it is: CSN is one of Brazil’s largest steelmakers, with mining and cement operations., What it means: Benjamin Steinbruch steps back after 24 years as CEO, returning to board chair., The catch: Police allege officials may have interfered in procedures involving CSN., Who it hits: Investors and partners in CSN, plus Rio state environmental agencies., What comes next: Schvartsman takes over with the company named in a police file in which it is not accused of wrongdoing.
The Steinbruch family hands day-to-day control to an outsider. A separate police inquiry alleges officials may have interfered in procedures involving the company; CSN declined to comment and those named deny wrongdoing.
Brazilian steelmaker CSN has a new chief executive. Fabio Schvartsman took over the role on Thursday, September 3, 2026.
He replaces Benjamin Steinbruch, who led the company for 24 years. Steinbruch goes back to chairing the board, a post he held from 1995 to 2023.
Schvartsman is a seasoned executive. He ran Vale from 2017 to 2019, stepping aside weeks after the Brumadinho dam collapse of January 2019.
The company is controlled by the Steinbruch family. Schvartsman is the first chief executive from outside it in decades.
Separately, Brazil’s Federal Police are investigating alleged irregularities in Rio de Janeiro’s environmental licensing. The probe is called Operação Sem Refino.
Part of the case file was released by Supreme Court justice Alexandre de Moraes. G1 reported on September 4 on the police findings.
The police found cument says investigators found messages indicating that state officials may have interfered in procedures involving CSN’s interests.
The police report says investigators found messages between then state environment secretary Bernardo Rossi and then Inea president Renato Bussière. Inea is the state environmental institute.
According to police, the two allegedly acted on issues related to CSN’s environmental liabilities. They also monitored administrative procedures involving CSN at Inea.
Both deny wrongdoing. Bussière says Inea never issued an operating licence to CSN.
CSN declined to comment on the investigation’s conclusions. The company was approached but did not respond to the specific police findings.
No prosecutor has charged CSN, and no court has ruled against it. The police report describes suspected favorable treatment by state officials, not wrongdoing by CSN itself.
Operação Sem Refino focuses on suspected fraud in environmental licenses for the Refit refinery in Rio. The refinery was formerly known as Refinaria de Manguinhos.
Police also allege money laundering and tax evasion linked to Refit and the fuel sector. The investigation has at least two phases, with the second launched on August 14, 2026.
Police say the evidence points to what they call a criminal organization inside Rio’s environmental agencies. They allege it worked against technical advice to serve private interests.
None of this has been tested in court. Police quote a message they attribute to Rossi, telling Bussière to ‘atropela o Ibama’, or override Ibama.
Rossi denies pressuring Inea and says his conduct was administrative. Bussière denies any irregularity and says Inea never issued an operating licence to CSN.
The leadership change comes at a turbulent time for CSN. The police document names the company among those whose administrative procedures allegedly drew political interference.
Police have not named CSN as a target of the investigation. Investors will watch how Schvartsman handles the situation.
Asked about Brumadinho, Steinbruch told NeoFeed that Schvartsman ‘will now show that this was not his doing’. He said the market’s view of him is very good.
Schvartsman takes over while the company is named in a police file in which it is not itself accused of wrongdoing. The allegations are serious but unproven.
CSN’s board, now led by Steinbruch, will support the new CEO. The family remains in control, but the day-to-day leadership has changed.
CSN, or Companhia Siderúrgica Nacional, is a major Brazilian steelmaker. It also operates in mining, cement, and logistics.
The company was founded in 1941 and is based in São Paulo. It has been controlled by the Steinbruch family for decades.
In Brazil, environmental licensing is shared between federal and state agencies. Ibama handles federal licenses, while state institutes like Inea manage state ones.
Companies need licenses to operate and expand. These licenses require technical studies and public consultation.
The allegations could affect CSN’s reputation and stock price. Investors may worry about legal risks.
They also affect public trust in Rio’s environmental agencies. The police probe suggests possible corruption in the state’s oversight.
The police report includes messages and other evidence. But it does not prove that CSN acted illegally.
It only suggests that state officials may have favored the company. CSN has not been charged with any crime.
The investigation will continue, and more phases may follow. CSN might issue a statement in the coming days.
Schvartsman will need to address the allegations with investors. His leadership will be tested early.
The Refit refinery is central to the police investigation. It was formerly known as Refinaria de Manguinhos.
