Brazil's Gerdau appoints Scardoelli as CFO, head of investor relations

miércoles 17 de junio de 2015 19:36 GYT
 

RIO DE JANEIRO, June 17 (Reuters) - Brazilian steelmaker Gerdau SA said on Wednesday that Harley Scardoelli will take over from Andre Pires as chief financial officer and head of investor relations on July 15.

The company did not give a reason in the statement for the departure of Pires, who has been CFO since January 2013.

Scardoelli joined Gerdau in 1988 and worked closely with Pires as head of finance and planning. He spent much of his career working for the company oversees, including in Canada, the United States and Spain.

"Pires was well regarded by the market in our view and his resignation comes as a surprise," Alex Hacking, analyst at Citi, said in a note to clients.

"Scardoelli used to work closely with Mr. Pires, therefore we anticipate a smooth transition," Hacking added.

(Reporting by Stephen Eisenhammer; Editing by Lisa Shumaker)