Is RHI Magnesita Leadership Shift Positioning The Company For Global Growth?

RHI Magnesita announces strategic executive succession plan as Gustavo Franco prepares to succeed long serving Stefan Borgas in November

Refractory solutions leader RHI Magnesita has confirmed a major executive transition, naming RHI Magnesita insider Gustavo Franco as Chief Executive Officer effective November 1, 2026. He will succeed Stefan Borgas, who steps down on October 31 after leading the company for ten years. Borgas will remain on hand as an advisor during the transition phase to guarantee unbroken strategic direction across the organization's international plant footprint.

Franco brings over two decades of heavy industrial knowledge to his new post, having joined Magnesita back in 2001 before rising through executive roles across Europe and the Americas. Serving most recently as Chief Customer Officer, he managed global commercial strategy and end-to-end customer operations.

• Commercial Integration: Led the total alignment of commercial operations after the 2017 combination of RHI and Magnesita.

• Operational Record: Maintained a seat on the Executive Management Team since 2019 while guiding global supply network initiatives.

This appointment comes following a complete succession assessment conducted by the Board of Directors and the Governance Committee.

"It is a great privilege to be appointed Chief Executive Officer of RHI Magnesita. We have a strong strategy, a unique global position and an exceptional team," - Gustavo Franco.

Franco's formal election as Executive Director will be presented to investors at the May 2027 Annual General Meeting. His decades of familiarity with high-temperature industrial processes, steelmaker partnerships, and technical sales provide stability across the group's global customer base. The structured handover ensures zero disruption to long-term client contracts or plant operations.

Promoting proven internal talent allows global manufacturing leaders to preserve strategic momentum through changing industrial cycles. The appointment of an experienced business professional supports the company’s capability to manage the procurement chain and material pricing effectively. According to CIO Bulletin, this move is part of a smooth transition process through which the organization will retain its competitive position in the global high-temperature market.