Gerdau announces new CEO

- Gustavo Werneck, currently Executive Director of the Brazil Operation, will be the new Chief Executive Officer (CEO) of Gerdau starting from January 1, 2018, succeeding André Gerdau Johannpeter.

- The current CEO, André Gerdau Johannpeter, and Executive Vice Presidents Claudio Johannpeter and Guilherme Gerdau Johannpeter will concentrate their efforts in the Boards of Directors of Gerdau and Metalúrgica Gerdau, in which they already are members.


Gerdau S.A. and Metalúrgica Gerdau S.A announce today (August 24) an important step in the evolution of corporate governance at the Company in its 116-year history, which was being planned for more than 12 months.  As part of the Company's transformation, starting January 1, 2018, the current members of the Gerdau Johannpeter family in the company's executive leadership (André Gerdau Johannpeter, CEO, and Executive Vice Presidents Claudio Johannpeter and Guilherme Gerdau Johannpeter) will dedicate themselves exclusively to the Boards of Directors of the respective companies in which they already are members.

To lead this new phase in the Company, the Board of Directors has chosen Gustavo Werneck, currently Executive Officer of the Brazil Operation, as the new CEO of Gerdau, effective January 1, 2018. Werneck, 44 years old, has been in the Company for 13 years. He has a bachelor's degree in Mechanical Engineering from the Federal University of Minas Gerais and MBAs from INSPER and Fundação Getulio Vargas. He also completed specialization courses at INSEAD, Harvard Business School, Kellogg School of Management and the London Business School. Prior to serving as Executive Director of the Brazil Operation, he served as Corporate Director of IT and as Industrial Director of Gerdau in India, among other positions.

"We are confident in Gustavo Werneck's unique management capability and adherence to Gerdau's new business culture. In all the positions he has held, he always delivered strong results, overcome important challenges, and built high-performance teams using an innovative management profile and contagious energy. On the part of the Gerdau Johannpeter Family, we believe we built an important legacy in direct business management, having consolidated the company's position as the leading producer of long and special steel in the Americas and marking its entry into the flat steel segment. Over the last few years, amidst the global challenges facing the industry, we returned to delivering positive results, optimized assets, implemented a pioneering digital innovation in the steel industry and modernized the company's culture. Starting January 2018, we will draw on our executive experience to sharpen the focus on defining Gerdau's medium- and long-term strategies in order to create value for our stakeholders and aid our executives in rolling out the strategies," says the current CEO of Gerdau, André Gerdau Johannpeter.

Gustavo Werneck, the future CEO of Gerdau, believes "it is a great honor to accept the challenge of leading a company with the history, size, quality of people and culture of Gerdau. In this new position, our focus will be on continuing and accelerating the transformations that the company has been going through in recent years in order to increase the profitability of our operations and create more value for shareholders."

The next four months will be dedicated to the transition of the new Governance in order to ensure a smooth process and, subsequently, to define the executive functions and processes across the company.

 

About Gerdau

Gerdau is the leading producer of long steel in the Americas and one of the leading suppliers of special steel in the world. In Brazil, it also produces flat steel and iron ore, activities that expand its product mix and boost the competitive edge of its operations. It is also the largest recycler in Latin America and, around the world, annually transforms millions of tonnes of scrap into steel, underlining its commitment to the sustainable development of the regions where it operates. Gerdau's shares are listed on the São Paulo, New York and Madrid stock exchanges.

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