Cosan replaces Marcelo Martins with Guilherme Penin in command of the group

São Paulo Cosan announced the departure of CEO Marcelo Martins, an executive with the group for 20 years. From January onwards, he will be replaced by Guilherme Penin, now vice-president, according to a relevant fact published on Friday (13).

Martins remains on the board of directors of Cosan and its subsidiaries Rumo, Compass and Moove, as well as supporting shareholders in the transition process and in the company's mergers and acquisitions area.

According to the statement, since 2024 Martins has acted decisively both in the capitalization of Cosan, in 2025, together with the entry of new partners, and in leading the extrajudicial recovery process of Raízen, together with Shell.

Penin is the current vice president of strategy, communications and institutional relations and has more than 20 years of experience in the infrastructure sector. He has been in the group for ten years.

Cosan is in the process of selling stakes in several businesses to resolve the group's debt. According to experts, these assets consist of high-quality businesses, with lower risk and strong predictability of cash generation, put up for sale due to reorganization needs.

Cosan and Shell control Raízen, a sugar and sugarcane ethanol producer that also operates in fuel distribution and whose extrajudicial recovery plan was approved by shareholders at the end of October.

Raízen's board of directors approved a capital increase of up to R$39.8 billion. The operation combines new money from Shell with the conversion of debt into equity.

Businessman Rubens Ometto is also expected to participate in the contribution through the Aguassanta fund. The forecast is that it will bring in around R$500 million. Cosan, Ometto's company with a stake in Raízen, will not make a contribution and, therefore, will have its stake diluted in the business.