After a decade at the helm of Suzano, Walter Schalka will step down as President of the company effective July 1, 2024. The executive will be succeeded by João Alberto Abreu, better known as Beto Abreu, who is stepping down as President of Rumo, a logistics company of the Cosan Group.
The change comes during the completion of the Cerrado Project, a new pulp mill in Ribas do Rio Pardo in Brazil, which is due to start operations in June. With a production capacity of 2.55 million tons per year, the company’s cash generation will experience significant growth.
“I reflected a lot on this, it is a continuity. With the entry of Cerrado [new pulp mill], Suzano begins a new investment cycle,” said Schalka, recalling that the company’s policy is to reinvest 90% of cash generation. “The challenge will be capital allocation. It is the right time to transition to the board and I will remain quite active,” added Schalka, who will be nominated for a seat on the company’s board of directors.
According to Suzano, Walter Schalka and Beto Abreu will begin a joint transition as of April 2.
Abreu has a 30-year career and spent 18 years at Shell, holding various positions in Brazil, England, and Argentina. He also worked at Raízen, as energy director and vice president of the ethanol, sugar, and energy business. The executive also held the presidency of Rumo for five years.
