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• Case | HBS Case Collection | January 2020 (Revised April 2020)

  Rumo: Infrastructure for a Healthier Economy

  Forest L. Reinhardt, Mariana Cal, Ruth Costas and Natalie Kindred

  Brazilian logistics company Rumo operated 13,500 km in railway networks, port terminals, and inland transshipment terminals, connecting major Brazilian ports to the agriculture hubs of Mato Grosso and São Paulo state. Controlled by Cosan, Brazil's leading sugar and ethanol producer, Rumo had been through a turnaround over the last three years, including heavy investment in operational improvements and financial deleverage, taking cash flow generation from a negative $278 million in 2015 to positive $15.3 million in 2018. In 2019, as the company planned its new expansion cycle ($3.4 billion would be invested from 2019 to 2023), Rumo's executives had to find the best way to continue to capture the value created, while preserving its relations with customers and other stakeholders.

  Keywords: Agribusiness; Plant-Based Agribusiness; Customer Relationship Management; Growth and Development Strategy; Logistics; Rail Transportation; Value Creation; Rail Industry; Transportation Industry; Agriculture and Agribusiness Industry; Latin America; Brazil;

  Citation:

  Reinhardt, Forest L., Mariana Cal, Ruth Costas, and Natalie Kindred. "Rumo: Infrastructure for a Healthier Economy." Harvard Business School Case 720-008, January 2020. (Revised April 2020.)  View Details

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• Case | HBS Case Collection | March 2020

  Odebrecht's 'Transformation Journey'

  Suraj Srinivasan, Lynn S. Paine, Ruth Costas and Mariana Cal

  At the center of one of the largest corruption scandals in Latin America, Brazilian conglomerate Odebrecht signed a leniency agreement with American, Swiss and Brazilian prosecutors in 2016 admitting to paying bribes in 12 countries. In an effort to regain financial stability and restore its damaged reputation, the Group overhauled its governance and set in motion a major organizational transformation effort. The case describes the Group's transformation journey and details various dilemmas that the new board of directors faced as the Group sought to put the scandal behind it and forge a path to the future.

  Keywords: board of directors; organizational transformations; Business ethics; corruption; Internal controls; crisis management; Business and Government; international business; Engineering and construction; Family businesses; corporate misconduct; Corporate Governance; Governing and Advisory Boards; Transformation; Organizational Culture; Crisis Management; Ethics; Engineering; Family Business; Crime and Corruption; Emerging Markets; Construction Industry; Brazil; Latin America;

  Citation:

  Srinivasan, Suraj, Lynn S. Paine, Ruth Costas, and Mariana Cal. "Odebrecht's 'Transformation Journey'." Harvard Business School Case 320-002, March 2020.  View Details

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• Case | HBS Case Collection | March 2019 (Revised March 2020)

  Devesa: Bringing Back the Glory of Argentine Beef

  Doug J. Chung, Mariana Cal, Fernanda Miguel, Doug J. Chung, Mariana Cal and Fernanda Miguel

  Citation:

  Chung, Doug J., Mariana Cal, and Fernanda Miguel. "Devesa: Bringing Back the Glory of Argentine Beef." Harvard Business School Case 519-002, March 2019. (Revised March 2020.)  View Details

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