Algoma Steel appoints CEO's successor
Sault Ste. Marie company Algoma Steel has appointed a new chief executive officer as the current one readies for retirement.
Current CEO Michael McQuade is retiring June 1, but will remain on the company's board of directors as Michael Garcia assumes his new position.
McQuade has been at the helm of Canada's only plate steel producer since March 2019.
"(He) 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," said Andy Harshaw, the chairman of the board, in a news release Monday.
Harshaw said Garcia is joining the company at an "optimal time as we execute our transformation strategy."
"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.," the company said in a news release.
"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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