Vienna,18 August 2026 (OTS) – RHI Magnesita, the leading global
supplier of high-grade refractory
products, systems and solutions, today announces the appointment of
Gustavo Franco as the Chief Executive Officer effective 1 November
2026, succeeding Stefan Borgas, who will step down after ten years as
CEO.
The appointment marks an important new chapter for RHI Magnesita
and follows a comprehensive succession process led by the Nomination
& Governance Committee and the Board of Directors. In Gustavo, the
Board has selected an experienced leader from within RHI Magnesita
who combines more than two decades of industry experience with deep
knowledge of the Group, its customers, its people and its 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, operational excellence, sustainability and
digitalisation, while strengthening the Company’s global footprint,
expanding its portfolio through targeted acquisitions and building a
culture centred on performance, accountability and innovation.
We look forward to working with Gustavo and are confident that he
will continue to deliver sustainable long-term value for our
customers, employees, shareholders and other stakeholders.”
About Gustavo Franco
Gustavo joined Magnesita in 2001 and has built his career across
technical, commercial and leadership roles in South America, North
America and Europe. He played a key role in the successful commercial
integration of RHI and Magnesita following the merger in 2017 and has
been a member of the Executive Management Team since 2019.
As Chief Customer Officer, Gustavo currently leads RHI
Magnesita’s global commercial organisation, with responsibility for
customer relationships, regional business performance and the
procurement and supply chain functions. This combination of customer
proximity, operational understanding, international experience and
knowledge of the Group provides a strong foundation as he prepares to
lead RHI Magnesita through its next phase of development.
Gustavo Franco said: “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. I look forward to
building on these strengths, working closely with our people and
customers around the world, and leading RHI Magnesita into the next
decade.”
The leadership transition has been carefully planned as part of
the Board’s long-term succession process. Stefan Borgas and Gustavo
Franco will work together through a structured handover period ahead
of the transition on 1 November 2026. Stefan will be available for
Gustavo as advisor subsequently.
Stefan Borgas said: “Leading RHI Magnesita over the past ten
years has been an enormous privilege, and I am immensely proud of
what our people have achieved together. I am delighted that Gustavo
will succeed me. He knows our Company, our customers and our industry
exceptionally well, and I look forward to working closely with him to
ensure a seamless transition.”
About RHI Magnesita
RHI Magnesita is the global leader in refractory products,
systems and solutions that enable high-temperature industrial
processes exceeding 1,200°C. Through its refractory products,
services and expertise, the company supports customers across the
steel, cement, non-ferrous metals, glass and other high-temperature
process industries. With more than 20,000 employees and a global
network of raw material sites, production facilities, recycling
centers, and sales offices, it serves customers worldwide.
RHI Magnesita is listed on the London Stock Exchange (RHIM) and
has a secondary listing on the Vienna Stock Exchange. For more
information, visit www.rhimagnesita.com .
For further inquiries, please contact:
Abhijit Borah
Head of Global Communications & Public Affairs
[email protected]
+43 699 1870 6728
Sofia Iriarte
Global Public Relations
[email protected]
+43 699 1870 6687
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