The head of German steelmaker ThyssenKrupp's Brazilian unit, CSA, and three Michelin executives were on a plane believed to have crashed into the Atlantic Ocean on Monday.
Erich Heine, chairman of Companhia Siderurgica do Atlantico (CSA) and a member of ThyssenKrupp Steel's executive board, was on the Air France AF 447 flight, a company source said.
Michelin said Luis Roberto Anastacio, head of the French tire company's Latin American operations, was on the flight.
The French news agency AFP reported that Michelin's South America regional IT director Antonio Gueiros and a French executive, Christine Pieraerts, were also aboard the flight.
The AFP report said Anastacio and Guieros were on their way to Paris for a meeting at Michelin's headquarters, while Pieraerts was on her way back to France after a visit to see the company's operations in Brazil.
The flight with 228 people on board was presumed to have crashed after hitting heavy turbulence.
In total 61 French people and 58 Brazilians were among the passengers on board, as well as 18 Germans and at least a dozen other nationalities. Seven children and a baby were aboard, as well as 12 French crew.
Air France said the Airbus flew into stormy weather four hours after take-off from Brazil and soon afterwards sent an automatic message reporting electrical faults.
A company spokesman said several of the plane's mechanisms had malfunctioned.
"It is probably a combination of circumstances that could have led to the crash," he said, adding that the airliner might have been hit by lightning.
Flight AF 447 left Rio de Janeiro on Sunday at 7 p.m. (2200 GMT) and had been expected to land at Paris's Roissy Charles de Gaulle airport on Monday at 11:15 a.m. (0915 GMT).