Usiminas CEO Fired as Shareholder Ternium Says Pact Violated

Usinas Siderurgicas de Minas Gerais SA, Brazil’s second-biggest steelmaker, fired its Chief Executive Officer Julian Eguren, a move that shareholder Ternium SA said stems from a fight among the company’s controllers. Eguren will be temporarily replaced by Romel Erwin de Souza, the Belo Horizonte, Brazil-based company known as Usiminas said today in a regulatory filing, adding that the board also approved removing members Paolo Bassetti and Marcelo Chara.
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