Gerdau S.A's CEO André Gerdau Johannpeter and executive VPs Claudio Johannpeter and Guilherme Gerdau Johannpeter will step down next January 1, 2018 as part of Brazilian steelmaker Gerdau's new corporate governance structure. The three executives will remain on the board. The executive director of Brazil business operations, Gustavo Werneck, will be the new CEO, with effect from January 1, 2018.

Werneck, who is currently executive officer of the company's Brazilian division and has been with the company for 13 years, will replace current ceo Andre Gerdau Johannpeter. Johannpeter, along with other members of the Gerdau Johannpeter family who are part of the executive board - vice presidents Claudio Johannpeter and Guilherme Chagas Gerdau - will serve from now exclusively on the board of directors of which they are already members.