By Brazil Stock Guide — Antonio Marco Rabello stepped down as chief financial officer and investor relations officer of Companhia Siderúrgica Nacional (CSN; B3: CSNA3; NYSE: SID) on Monday, November 9, and was named chief financial officer and investor relations officer of Brazilian water and sanitation company Aegea Saneamento on the same day.
His departure comes just two days after CSN signed an agreement to sell its cement business, CSN Cimentos, to China’s Huaxin in a transaction valued at R$12.7 billion (approximately $2.4 billion). Rabello, who joined CSN in March 2024, was involved in negotiations for the divestment, a key component of the steelmaker’s debt-reduction strategy.
At CSN, Chief Executive Officer Fabio Schvartsman will temporarily assume the CFO responsibilities, while Pedro Barros Mercadante Oliva will take over investor relations. The company said the management changes would not affect its strategy or ongoing asset divestment program.
At Aegea, Rabello will succeed Yaroslav Memrava Neto, who had been serving in both roles on an interim basis. According to the sanitation company, his appointment concludes a succession process announced in August.
Rabello brings more than 30 years of financial experience, including senior positions at Brazilian chemical producer Unipar, conglomerate Novonor — formerly known as Odebrecht — and petrochemicals company Braskem. At Novonor, he was involved in restructuring approximately R$80 billion in debt and executing asset divestments.
In a statement, Aegea said Rabello’s appointment was aligned with its priorities of strengthening cash generation, maintaining disciplined capital allocation and reducing financial leverage.
Aegea, one of Brazil’s leading private water and sanitation operators, has also been widely viewed as a potential candidate for an initial public offering (IPO).
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