Algoma Steel Group Inc., a leading Canadian producer of hot and cold rolled steel sheet and plate products, has announced the appointment of Michael Garcia as Chief Executive Officer effective June 1, upon the retirement of current CEO Michael McQuade.
McQuade will continue to serve on the company’s board of directors and Garcia will also join the board concurrent with his appointment as CEO.
“Mike McQuade has provided exemplary leadership through this transition period, taking Algoma from restructuring to a publicly listed company. He has set Algoma on secure footing as the company advances its sustainability agenda and embarks on its transformation to electric arc steelmaking. On behalf of the entire Algoma team, I thank him for his dedicated service and welcome the continued benefit of his insights as he stays on as a director,” said Andy Harshaw, Chairman of the Board. “I am excited to announce Michael Garcia will be joining Algoma as Chief Executive Officer. He comes at the optimal time as we execute our transformation strategy. His deep industry expertise and world-class experience will amplify Algoma’s value proposition and we look to him to drive long-term value for all of our stakeholders as we usher in a new era in steel.”
Garcia is a successful industrial business leader, experienced public company CEO, and board member, according to a company press release. His skillset includes developing and executing corporate strategy, offering global experience across multiple countries and cultures with the proven ability to nurture talent and lead an organization through change.
His career spans senior executive roles in numerous well-regarded companies including Alcoa Inc., Gerdau Ameristeel Inc., Evraz Inc./Evraz Highveld Steel & Vanadium Co., Federal Reserve Bank of Richmond, Domtar Inc., and Alliant Energy Inc. Mr. Garcia holds a Bachelor degree in Computer Science from the United States Military Academy and a Master of Business Administration degree from Harvard University.
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