Corporate Leadership
Key Facts
—New CFO. Augusto Ribeiro Junior becomes VP of Finance & Administration and Investor Relations Director on 10 August 2026.
—Departure. Rodrigo Cesar Perico leaves the role on the same day Ribeiro Junior takes over.
—CEO Change. Harro Ricardo Schlorke Burmann became CEO on 1 June 2026, replacing an interim leader after the prior CEO resigned.
—Financial Snapshot. Tupy reported a Q1 2026 net loss of roughly R$94.2 million (about US$19 million) and full-year 2025 revenue down 9%.
—Company Profile. Founded in 1938, the Joinville-based firm makes cast-iron engine blocks and structural parts for global automakers.
Tupy, the Brazilian industrial giant, has named Augusto Ribeiro Junior as its new CFO, completing a sweeping leadership overhaul that began with a CEO resignation earlier this year.
A New Financial Chief Steps In
Tupy (B3: TUPY3) announced that Augusto Ribeiro Junior will take over as Vice President of Finance & Administration and Investor Relations Director. His mandate begins on 10 August 2026 and runs through 30 April 2028.
Rodrigo Cesar Perico, who currently holds the position, will depart on the same day. The company did not disclose the reason for the change or Perico’s next steps.
A Wider Leadership Reset at the Top
The appointment of a Tupy new CFO is the latest move in a broader executive reshuffle. CEO Rafael Esmeraldo Lucchesi Ramacciotti resigned effective 1 April 2026.
Gueitiro Matsuo Genso served as interim CEO while the board searched for a permanent replacement. The global executive search firm Heidrick & Struggles led the hunt.
Harro Ricardo Schlorke Burmann was elected as the new CEO and took office on 1 June 2026. The arrival of a new CFO now gives Burmann a fresh financial partner as he sets the company’s direction.
The Numbers Behind the Tupy New CFO Appointment
The leadership changes come during a financially challenging period. Tupy reported a net loss of roughly R$94.2 million (about US$19 million) for the first quarter of 2026.
Adjusted EBITDA for the quarter was about R$98.8 million, a drop of roughly 60%. The company’s leverage ratio stood at approximately 4.0 times adjusted EBITDA.
For the full year 2025, net revenue was about R$9.693 billion, down 9% from the previous year. The company posted a full-year net loss of roughly R$655 million.
What Tupy Actually Builds
Founded in 1938 and based in Joinville, Santa Catarina, Tupy is far from a household name but is a quiet giant in global manufacturing. It produces cast-iron engine blocks, cylinder heads, and structural components.
Its customers include major automakers and heavy machinery producers around the world. The company’s parts sit inside vehicles and equipment on every continent.
The MWM Integration and Governance Shifts
The current restructuring is not happening in a vacuum. Tupy acquired and integrated MWM do Brasil between 2022 and 2024 in a deal worth about R$855 million.
That acquisition triggered a significant administrative restructuring inside the company. A late-2025 governance change, effective 1 December 2025, abolished the statutory Vice-Presidency of Institutional Relations & Sustainability.
What This Means for Investors and Expats
For international investors watching Brazil’s industrial sector, a complete C-suite reset signals a board ready to make tough calls. A new CEO and a new CFO arriving within months of each other often points to a strategic pivot, not just routine succession.
The financial numbers explain the urgency. With leverage elevated and revenue declining, the new leadership team will need to show a credible path back to profitable growth.
For expats living in Santa Catarina, Tupy remains one of the region’s cornerstone employers and a pillar of the local economy in Joinville. The company’s health directly affects the broader community.
What to Watch Next
The next major checkpoint will be Tupy’s second-quarter 2026 earnings, which will reflect the early days of the Burmann-Ribeiro Junior partnership. Investors will listen closely for any shift in strategy or capital allocation.
Any further changes to the executive team or board would suggest the reset is still unfolding. For now, the company has drawn a line under a period of uncertainty at the top.
The CFO’s Fixed-Term Mandate and the CEO Search
Augusto Ribeiro Junior’s mandate runs to 30 April 2028, giving him a defined window to work alongside the new CEO. The earlier CEO succession process that brought Harro Ricardo Schlorke Burmann on board was run by the global search firm Heidrick & Struggles.
This structured handover means the finance leadership sits at the centre of a globally exposed industrial group. Tupy, founded in 1938 in Joinville, Santa Catarina, supplies cast-iron engine blocks and structural components to global automakers and machinery makers.
Deepening Financial Pressures and Governance Changes
The financial backdrop remains tough: Q1 2026 adjusted EBITDA was about R$98.8 million, down roughly 60%, and leverage stood at about 4.0 times adjusted EBITDA. The company closed 2025 with a full-year net loss of roughly R$655 million (about US$130 million).
A late-2025 governance change, effective 1 December 2025, abolished the statutory Vice-Presidency of Institutional Relations and Sustainability. Earlier, the 2022-2024 acquisition and integration of MWM do Brasil, worth about R$855 million, had already driven an administrative restructuring.
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Frequently Asked Questions
Who is the new CFO of Tupy?
Augusto Ribeiro Junior has been named Vice President of Finance & Administration and Investor Relations Director. He takes over the role on 10 August 2026, replacing Rodrigo Cesar Perico.
Why did Tupy change its CEO and CFO in 2026?
The company has not publicly detailed the reasons behind each departure. The changes follow a period of financial pressure, including a Q1 2026 net loss and a 9% revenue decline in 2025, alongside the integration of MWM do Brasil.
What does Tupy manufacture?
Tupy produces cast-iron engine blocks, cylinder heads, and structural components. Founded in 1938 and headquartered in Joinville, Brazil, it supplies global automakers and heavy machinery manufacturers.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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