Steel Mills

Algoma Names Garcia CEO, McQuade to Retire

Written by David Schollaert

April 18, 2022

Michael McQuade, Algoma Steel’s chief executive officer, will retire on June 1. Michael Garcia has been named to succeed him.

McQuade will continue to serve on the company’s board of directors, where Garcia will also join concurrent with his appointment as CEO, the company said.

Algoma“Mike McQuade has provided exemplary leadership through this transition period, taking Algoma from restructuring to a publicly listed company,” said 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,” he added.

Garcia’s career spans senior executive roles in numerous companies including Alcoa Inc., Gerdau Ameristeel Inc., Evraz Inc./Evraz Highveld Steel & Vanadium Co., to name a few. His industrial business success, as well as his experience as a public company CEO and a board member, will help lead the organization through its growth, the Sault Ste. Marie, Ontario-based steelmaker said.

Garcia holds a bachelor’s degree in computer science from the United States Military Academy and an MBA from Harvard University.

“I am excited to announce Michael Garcia will be joining Algoma as chief executive officer. He comes at the optimal time as we execute our transformation strategy,” Harshaw said. “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.”

By David Schollaert, David@SteelMarketUpdte.com

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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