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Source: Algoma Steel Inc.
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  • Algoma Steel (ASTL) has added six new directors to its board following the closing of Algoma’s business combination with Legato Merger Corp.
  • he new directors provide a wealth of expertise and underscore Algoma’s commitment to bringing diverse perspectives and experience to the boardroom
  • Algoma Steel is a fully integrated steel producer based in Sault Ste. Marie, Ontario
  • Algoma Steel Group Inc. (ASTL) opened trading at C$14.05 per share

Algoma Steel (ASTL) has added six new directors to its board following the closing of Algoma’s business combination with Legato Merger Corp.

The new directors provide a wealth of expertise and underscore Algoma’s commitment to bringing diverse perspectives and experience to the boardroom.

In addition to Andrew Harshaw (Chair), Andrew Schultz and Michael McQuade, new directors include Mary Anne Bueschkens, Gale Rubenstein, and James Gouin were added to Algoma‘s board. Former Legato representatives David Sgro and Eric Rosenfeld and former Legato chairman Brian Pratt have also joined the Algoma board.

All of the Algoma directors, other than Mr. McQuade, Algoma’s CEO, are independent.

“We are excited to welcome six new directors to our board,” remarked Michael McQuade. “It is important that we deliver on our public company expectations by assembling the level of leadership and governance required to meet the demands of the rapidly evolving North American steel industry. Our new board members bring critical expertise and diversity to the team.”

Mary Anne Bueschkens is a globally experienced business executive, attorney and board member. 

Gale Rubenstein is an experienced board director with expertise in corporate pensions and regulatory matters, corporate governance, restructuring, and crisis management. 

James Gouin served as President, Chief Executive Officer, and a member of the board of directors of Tower International, Inc (“Tower”), a global manufacturer of engineered automotive products.

David Sgro is a Managing Director of Crescendo Partners, L.P., an investment firm, and Director of Research of Jamarant Advisors.  

Eric S. Rosenfeld has been the President and CEO of Crescendo Partners, L.P., an investment firm, since 1998.  

Brian Pratt served as Chairman of Primoris Services Corp from July 2008 until May 2019 and as a Director from July 2008 to February 2020.

Algoma Steel is a fully integrated steel producer based in Sault Ste. Marie, Ontario. 

Algoma Steel Group Inc. (ASTL) opened trading at C$14.05 per share.

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