Steel Mills
Algoma Names McQuade as New CEO
Written by Sandy Williams
March 12, 2019
Algoma Steel announced today the appointment of Michael McQuade as Chief Executive Officer. McQuade will succeed Kaylan Ghosh who served as CEO prior to and during the restructuring of Algoma.
“Mike has the skills and experience to lead Algoma in the next stage of its evolution as a leading Canadian steel company and globally competitive producer,” stated Andy Harshaw, chairman of Algoma. “Mike and the other members of Algoma’s leadership team will build on the company’s financial and operational strengths and oversee the company’s CDN $300 million facility modernization program. This program will expand the company’s capacity and grade capability and position Algoma to meet the growing demand for advanced grades of steel.”
Prior to joining Algoma as director in 2018, McQuade held a variety of roles during a 35-year tenure at Stelco, culminating in appointment as chief financial officer in 2010 and president in 2014.
Ghosh is resigning his position at Algoma to pursue other opportunities. Ghosh remarked, “I am proud of all that we have accomplished in Algoma’s turnaround and excited about its future, but I believe the time is right for me to move on to the next phase of my professional life. I have full confidence in the leadership team and their ability to execute the company’s business plan and create lasting value.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.
USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.
SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.