Steel Products
Gerdau Family Execs Step Down
Written by Tim Triplett
August 25, 2017
André Gerdau Johannpeter has resigned as the chief executive of Gerdau SA, one of the largest steelmakers in the Americas, as members of the founding family exit from the company’s executive management. Gostavo Werneck, head of Gerdau’s Brazil operations, will replace him in January.
Also stepping down from their management roles are Executive Vice-Presidents Claudio Johannpeter and Guilherme Gerdau Johannpeter. All three will remain on the Gerdau board.
The company said it had been planning the management shake-up for the past year, describing it as “an important step in the evolution of its corporate governance,” and denied press reports that it was motivated by probes into alleged wrongdoing by the company.
Gerdau is the largest producer of long steel products in the Americas and ranks as the fourth-largest steelmaker of long and flat products overall in North America.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
CMC to open rebar fabrication facility in Ohio
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
US and Mexico take action to curb ‘unfair’ trade
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
Final thoughts
First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.
Active rig counts recover in US, slip in Canada
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
AISI: US steel shipments up in May from April, off from 2023
Domestic steel shipments increased in May month over month but have fallen on-year.