Page 88 - Steel Metallurgy eMagazine Volume September 2026

NEWS
D e s k

RHI MAGNESITA APPOINTS

GUSTAVO FRANCO AS CEO

HI Magnesita has appointed
Gustavo Franco as its new Chief
RExecutive Officer, effective
November 1, 2026. Franco will succeed
Stefan Borgas, who will step down after
leading the global refractory-products
company for ten years.

The appointment opens a new chapter
for RHI Magnesita following a structured
succession process led by the Nomination
& Governance Committee and the Board
of Directors. The Board selected Franco
from within the organisation, citing
his more than two decades of industry
experience and deep knowledge of the
Group’s customers, people and global
operations.

Announcing the succession, Herbert
Cordt, Chair of the Board, said: “The
Board is delighted to appoint Gustavo
as Chief Executive Officer. His extensive
industry experience, deep knowledge
of RHI Magnesita and its customers,
and strong track record within the
Group make him ideally placed to lead
the business through its next phase of
development.

On behalf of the Board, I would like
to thank Stefan for his outstanding
contribution over the past decade.
Under his leadership, the merger of
RHI and Magnesita created the global
leader in refractories, establishing a
stronger, more diversified and more
resilient business. He has driven a clear
strategic focus on customer partnership, Stefan Borgas
operational excellence, sustainability
and digitalisation, while strengthening
the Company’s global footprint,
expanding its portfolio through targeted
acquisitions and building a culture continue to deliver sustainable long- long-term succession process. Stefan
centred on performance, accountability term value for our customers, employees, Borgas and Gustavo Franco will work
and innovation. shareholders and other stakeholders.” together through a structured handover
period ahead of the transition on 1
We look forward to working with The leadership transition has been November 2026. Stefan will be available
Gustavo and are confident that he will carefully planned as part of the Board’s for Gustavo as advisor subsequently.

86 STEEL & METALLURGY SEPTEMBER 2026