Steel News

Algoma Names New Chief Executive

3/14/2019 - A former Stelco leader has taken the reins of a competing Canadian steel manufacturer.

Algoma Steel Inc. announced Monday that Michael McQuade, who retired as president of Stelco at the end of 2017, was appointed chief executive. McQuade has served on Algoma’s board of directors since last year. 

"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,” said Algoma chairman Andy Harshaw.

McQuade first joined Stelco in the late 1970s as a co-op student and progressed through the ranks after being hired full time. Along the way, he held a variety of roles in finance, accounting, operations and sales.

He was named chief financial officer in 2010 and president in 2014. McQuade steered Stelco through its split with United States Steel Corporation and its turn under creditor protection.

At Algoma, McQuade is succeeding Kalyan Ghosh, who has stepped down to pursue other opportunities.

"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,” Ghosh said in a statement.