RHI Magnesita names Gustavo Franco as future CEO

RHI Magnesita, a global leader in refractory products and systems, has announced that Gustavo Franco will succeed Stefan Borgas as Chief Executive Officer, effective November 1, 2026. Franco, who joined the company in 2001, currently serves as Chief Customer Officer and has held various technical and leadership roles across South America, North America, and Europe.

In a separate update regarding the company's financial strategy, CFO Ian Botha highlighted the firm's resilience through diversification. He noted that approximately 65% of revenue is derived from the steel sector, while 35% comes from other industrial applications. Botha also addressed the company's cost structure, noting that raw materials account for over 70% of total costs, and emphasized the importance of their backward-integrated production across multiple countries.