Algoma Steel appoints new CEO

Algoma Steel Group Inc., a Sault Saint Marie, Ontario-based producer of hot and cold rolled steel sheet and plate products, has announced the appointment of Michael Garcia as CEO, effective in June. Garcia will replace current CEO Michael McQuade, who plans to retire in the summer.  

According to a news release from Algoma, 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,” says Andy Harshaw, chairman of the board. “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.”   

Algoma says Garcia has experience developing 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 companies, including Alcoa Inc., Gerdau Ameristeel Inc., Evraz Inc., Federal Reserve Bank of Richmond, Domtar Inc. and Alliant Energy Inc. Garcia holds a bachelor's degree in computer science from the United States Military Academy, West Point, New York, and a Master of Business Administration degree from Harvard University.  

“I am excited to announce Michael Garcia will be joining Algoma as CEO,” Harshaw says. “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.”