Market Segment
Change of CEO at Stelco
Written by Sandy Williams
January 27, 2020
Canadian steel producer Stelco will return Alan Kestenbaum to the position of chief executive officer, effective Feb. 21. Current CEO David Cheney will step down and return to his previous role at Bedrock Industries.
Kestenbaum served as Stelco’s CEO from the closing of the company’s initial public offering in November 2017 until February 2019 and is currently acting as Stelco’s executive chairman.
“I am excited to be returning soon to the CEO role to continue leading the company through its next phase of growth;” said Kestenbaum.
Stelco entered creditor protection in 2004 and was sold to U.S. Steel in 2007. The company re-entered creditor protection in 2014 and was sold to Bedrock Industries L.P. in late 2016. The company produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products.
Sandy Williams
Read more from Sandy WilliamsLatest in Market Segment
Nucor targets ‘white hot’ data center boom
With infrastructure demand shifting toward digital capacity, Nucor Corp. is positioning itself as the go-to steel supplier for the data center boom.
Gerdau’s N. American earnings rise in Q3 due to fall in imports
Gerdau’s North American profits rose in the third quarter, boosted by a decline in imports due to Section 232 steel tariffs.
Ternium swings to Q3 loss, eyes 2026 recovery
Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
Algoma’s losses widen in Q3 as tariff troubles continue
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.