For strengthening its operations and enhancing the production performance, LIBERTY Galați moves forward in its restructuring plans by implementing strategic changes at the executive management level – with the Chairman of the Board taking over executive leadership coordination, with the appointment of a new Board Member, and by launching the recruitment process for a new General Manager.

Radu Ionescu will be stepping down from his role as General Manager of LIBERTY Galati and Tubular and will continue to support LIBERTY Galati as a trusted adviser and business partner.

The Chairman of the Board of LIBERTY Galați, Ajay Aggarwal, returns as Interim General Manager to ensure the foundation for the company’s repositioning on the Romanian and regional markets, the return to profitability, and the successful implementation of the Restructuring Plan. With over 35 years of experience in trading, finance, and international operations and a background that includes major M&A and business development projects across Europe, Africa, and Asia, Ajay Aggarwal led the post-Covid crisis turnaround of LIBERTY Galați in 2021 when the company achieved a record-production of 2.35 million tonnes, a turnover of RON 9.37 billion, and a profit exceeding RON 1.5 billion. Resident of Romania for the past five years and recognized industry leader, he will ensure business continuity and will lead LIBERTY Galati team for regaining LIBERTY Galati’s solid position as strategic economic pillar of Romania.

To ensure the governance and transparency required for the successful completion of the Restructuring Plan, LIBERTY Galați has appointed Oana Petrescu to its Board of Directors. A highly respected professional in the business community, Oana played a key role in the development of the Plan. With over 30 years of experience in finance and corporate restructuring, Oana Petrescu has been instrumental in the reorganization and return to profitability of dozens of major companies. Throughout her career, she has served as partner and coordinator of financial services and consulting practices at Arthur Andersen, Ernst & Young, and Deloitte. In 2006, she was appointed Executive Vice President at BCR, where she led operational restructuring programs following the bank’s acquisition by Erste Group, and after the 2009 financial crisis. Since 2018, Oana has successfully completed several interim CFO and CEO mandates for companies in financial distress, and currently serves as Restructuring Partner at EuroInsol.

Liberty Galati management team has been extended through the promotion of  two Romanian professionals, well-known and respected in the steel industry: Cornel Moisescu as Head of Production and Aida Nechifor as Head of Finance.

Cornel Moisescu was promoted Head of Production following his strong performance as Head of Primary and will oversee the entire production flow — from upstream to downstream operations — including the Hot Strip Mill, Heavy Plate Mill, Cold Rolling Mills, and the zinc coating and organic coating lines.

With over 20 years of experience at the Galați steelworks, Aida Nechifor has been appointed Head of Finance at LIBERTY Galați, previously being Head of Sustainability (2023-2025), General Manager (2021–2023) and CFO (2018–2021) for this company. She brings deep financial and business expertise and is a recognized expert in the steel industry – currently being the President of UniRomSider.

In partnership with a leading global executive search firm, LIBERTY Galați has also launched a comprehensive recruitment process for a permanent General Manager and other key executive roles, aimed at securing top-tier leadership to guide the company through its next phase of growth.

Romania needs steel and the Romanian based leadership team will focus on the integrated production operations to ensure this essential material for economic development and a strong operating steel manufacturing for the strategic sectors of Romania, including defence, construction and infrastructure, shipbuilding, and energy.

With a renewed leadership team and a clear strategic direction, supported by both our Concordat administrators and the experts within the group, LIBERTY Galați has full confidence in the team’s capability to stabilize operations, delivering on its restructuring commitments, and building a sustainable future for Romania’s largest steel producer.