In the biggest management change since its IPO, Cosan announced a major restructuring of its management and replaced the leadership of Raízen, seeking a new focus on its operations as the stock trades at a five-year low.
Nelson Gomes, the current CEO of Cosan, will take over as the head of Raízen, replacing Ricardo Mussa, who has been in the position for almost five years. Mussa, a veteran with 15 years at Cosan, will now assume leadership of Cosan Investimentos and a seat on the holding‘s board.
“I recruited Mussa to help me with our energy transition strategy,” Rubens told Brazil Journal. “Raízen is entering a new phase and needs a review of its business plan, and Nelson’s profile is ideal for that. And Marcelo, with his strategic profile, is what the holding needs now.”
Raízen announced that CFO Carlos Moura is leaving the company, to be replaced by Rafael Bergman, the current CFO of Rumo.
At Rumo, Bergman will be replaced by Guilherme Machado, the current CFO of Compass.
The reshuffling suggests that Rubens is shifting his focus to managing the company’s debt and investments instead of the growth that has been the focus in recent years.
Since its IPO in 2021, Raízen has struggled to deliver on promises to investors. There is skepticism in the market about the company’s ability to return to the performance levels of its competitors and reduce its debt.
Raízen is valued at nearly R$30 billion on the B3 exchange and is trading near its historical low, with the stock closing today at R$2.88.
Cosan is valued at R$22 billion on the stock exchange.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
