Algoma Steel Group Inc. announces appointment of new CEO

SAULT STE. MARIE — Algoma Steel Group Inc., a Canadian producer of hot and cold rolled steel sheet and plate products, announced the appointment of Michael Garcia as Chief Executive Officer effective June 1st, 2022 upon the retirement of current CEO Michael McQuade. Mr. McQuade will continue to serve on the Company’s board of directors and Mr. Garcia will also join the Board concurrent with his appointment as CEO.

Andy Harshaw, Chairman of the Board, commented, “Mike McQuade 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. 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.” Mr. Harshaw added, “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. 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.”

Mr. Garcia is an industrial business leader, experienced public company CEO, and board member. He has background in developing and executing corporate strategy, offering global experience across multiple countries and cultures with has led organizations through change. His career spans senior executive roles in numerous 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. 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.