CSN changes command: Schvartsman takes over as CEO, Steinbruch returns to board
September 4 update: CSNA3 rose as much as 16.22% on the morning of September 3 and closed up 6.69%, per InfoMoney and Bloomberg Línea. Fabio Schvartsman, former Vale chief, takes over on September 3 as CSN's CEO, replacing Benjamin Steinbruch, who leaves after 24 years and returns to chair the board, per NeoFeed, Brazil Journal, Poder360 and Money Times. The change comes with the company carrying R$ 42 billion in debt and 3.49x leverage, per NeoFeed.