August 24, 2017 / 12:15 PM / a year ago

Brazil's Gerdau appoints new CEO as controlling family leaves management

SAO PAULO, Aug 24 (Reuters) - Gerdau SA, a Brazilian steelmaker, has appointed Gustavo Werneck da Cunha as the company’s new chief executive officer effective from Jan. 1, 2018, according to a securities filing on Thursday.

It also said that from that date members of the family which owns the company will relinquish management duties, and will act exclusively as board members, referring to CEO André Bier Gerdau Johannpeter, and Executive Vice-Presidents Claudio Johannpeter and Guilherme Chagas Gerdau Johannpeter. (Reporting by Ana Mano)

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