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Algoma Steel announces CEO change after net quarterly loss of $485.1-million

Algoma Steel faces a $485.1 million Q3 loss due to $89.7 million in tariffs; CFO Rajat Marwah will become CEO on Jan. 1, 2026, succeeding retiring Michael Garcia.

Summary by The Globe & Mail
Company says CEO Michael Garcia will be succeeded by current chief financial officer Rajat Marwah

9 Articles

Sault StarSault Star
Lean Right

Algoma announces CEO change along with Q3 loss as tariffs weigh on results

News of Garcia stepping down comes as company reports net loss of $485.1M during quarter

·Sault Ste. Marie, Canada
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Financial PostFinancial Post
Reposted by
Western InvestorWestern Investor
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Algoma announces CEO change along with Q3 loss as tariffs weighed on its results

SAULT STE. MARIE -- Algoma Steel Group Inc. announced that its CEO Michael Garcia will retire from the company at the end of the year as it reported its earnings for the third quarter.

·Canada
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The Globe & MailThe Globe & Mail
Center

Algoma Steel announces CEO change after net quarterly loss of $485.1-million

Company says CEO Michael Garcia will be succeeded by current chief financial officer Rajat Marwah

·Canada
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SooToday.comSooToday.com
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BREAKING: Algoma Steel switches leadership, reports $652-million operational loss in quarter

Chief financial officer Rajat Marwah will take over as CEO on Jan. 1. Michael Moraca promoted to CFO

·Sault Ste. Marie, Canada
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Simcoe.comSimcoe.com
+2 Reposted by 2 other sources
Lean Left

Algoma Steel Group, Inc. Announces Leadership Transition

CFO Rajat Marwah to Succeed Michael Garcia as CEO Effective January 1, 2026 as Part of Planned Succession and Leadership Transition

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Northern Ontario BusinessNorthern Ontario Business

Algoma Steel switches leadership, reports $652-million operational loss in quarter

Chief financial officer Rajat Marwah will take over as CEO of Sault steelmaker on Jan. 1.

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Simcoe.com broke the news in on Wednesday, October 29, 2025.
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