GFG Alliance’s executive leadership team has been further bolstered by the appointment of three new leaders to its sustainable energy, capital markets, and InfraBuild divisions.

• Stefan Håkansson, a highly experienced senior executive at the European energy group E.ON has been appointed as Global Head of Sustainable Energy Projects.
• Paul Altschwager has been appointed as Chief Capital Officer, joining from international energy and convenience retailer EG Group, where he was Group CFO.
• Francisco Irazusta has been appointed CEO and Executive Director of InfraBuild, joining from the listed seamless pipe producer Tubos Reunidos, where he was Chairman and CEO.

The appointments will help to grow GFG’s core businesses, drive its sustainability CN30 ambition and structure investments in major transformation projects which include the expansion of the group’s high quality magnetite iron ore reserves, converting the group’s remaining blast furnaces to cutting edge electric arc furnaces, and investing in large scale sustainable energy and hydrogen projects.

Carbon neutral 2030 (CN30)

Stefan Håkansson has for the past five years been CEO of E.ON Business Solutions and Global Director for Energy Infrastructure Solutions, which provides end to end energy services for two million customers (Industries and Cities) in 15 countries. He was previously managing director of E.ON Thermal Sweden and Karlshamn Kraft AB, which were E.ON-owned Nordic power generation businesses.

Stefan will use his deep expertise to drive GFG’s CN30 ambition and renewable energy development, as it invests in solar, wind and green hydrogen installations to decarbonise its iron and steel operations. He will also drive energy efficiency as one of main leavers for CN30. Stefan will join after the European summer when concluding his final tasks with E.ON.

Capital Markets

Paul Altschwager has 30 years’ experience across multiple industries with complex capital, debt and operational management activities. Before being based in the UK with EG Group, Paul held senior positions at Woolworths Limited, Charter Halls Group, Westfield Group and Qantas Airways.

Paul’s experience will enable the group to build on its significant progress following agreements struck with the administrators for Greensill on a debt restructuring, the repayment A$405m of debt facility in LIBERTY Primary Metals Australia, the refinancing of the group’s US steel businesses, and the U$350m ABCF raised by InfraBuild from Blackrock and Silver Point.  Paul will take up his position on 1^st August 2023.

InfraBuild

Francisco Irazusta joins InfraBuild after a three-year term as Chairman and CEO of Spanish seamless pipe manufacturer and distributor Tubos Reunidos, where he oversaw the business’s return to profit in 2022.  Francisco previously served as Chief Executive of Light Building Products, Chief Executive of the International Businesses and Interim Chief Executive Officer at Fletcher Building, a listed building products manufacturer based in New Zealand.

Francisco’s appointment will ensure that InfraBuild continues its strong financial performance in the 2023 fiscal year, and follows InfraBuild’s recent success in the debt markets.  Interim CEO and Executive Director Dak Patel will support Francisco to ensure a smooth transition and will continue his role as a member of the InfraBuild board.  Francisco will take up his role full time on the 1^st of October.

Sanjeev Gupta, Executive Chairman, said:

“We are delighted to have attracted such world-class talent to our leadership team at a critical time for the group as we work to complete our debt restructuring and fix our sights on leading the transition to green iron and steel. The huge experience Stefan, Paul and Francisco all bring will help ensure our star businesses continue to perform and we provide a powerful platform to drive investments to capitalise on our advantages in magnetite iron ore and sustainable energy solutions which are so key to green steel production and the future of our group.”

Stefan Håkansson said:

“I am super excited about the global impact we are going to have when helping to decarbonise the iron and steel Industry. Leading this journey with very competent teams is a unique opportunity.”

Paul Altschwager said:

“I’m delighted to be joining GFG at such an important and critical juncture in its journey to establish world class green iron and steel operations. My focus will be to support and develop the group’s capability and capacity to finance its global operations in a sustainable manner, and build on the recent key developments.”

Francisco Irazusta said:

“It is an honour for me to have the opportunity to lead this great company. I’m looking forward to meeting and working with the fantastic talent in the InfraBuild team and continuing its success.”

Further information from:

Note to the editors:

GFG Alliance is a collection of global businesses and investments owned by Sanjeev Gupta and his family. The Alliance is structured into three core industrial pillars; LIBERTY Steel Group, ALVANCE Aluminium Group and SIMEC Energy Group, independent of each other yet united through shared values and a purpose to create a sustainable future for industry and society. GFG Alliance employs 35,000 people, across 10 countries and has revenues of USD $20bn. GFG Alliance is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30).  

www.gfgalliance.com