Liberty brings restructuring expert onto board to help refinance Greensill exposure

Liberty Steel Group is reshuffling its board to bring in four additional roles including a chief restructuring officer, the company said on Wednesday May 5.

Jeffrey Stein joins the company in that role, having led the restructuring of Whiting Petroleum Corp in 2020 as well as having held similar positions at other US energy ventures, Philadelphia Energy Solutions and Westmoreland Coal.

The company is also bringing in Jeff Kabel, a former director at JP Morgan as chief transformation officer, Iain Hunter as chief governance officer and Deepak Sogani as its new chief financial officer, replacing V Ashok.

The CRO and CTO roles are independent directorships; neither Stein nor Kabel will be direct employees of the company, it said.

“The appointments represent a step forward in Liberty’s response to the collapse of its principal lender, Greensill Capital,” the company said.

What to read next
The publication of Fastmarkets’ price assessments of calcined alumina on Thursday October 3 were delayed due to a reporter error. Fastmarkets’ pricing database has been updated.
The publication of Fastmarkets’ India import aluminium scrap price assessments for Wednesday October 2 were delayed because of the Gandhi Jayanti public holiday in India. Fastmarkets’ pricing database has been updated.
UK export volumes of steel scrap to India have fallen in the current quarter, although sources in the British scrap industry said that other destinations should be able to take up the excess, Fastmarkets heard on Wednesday September 25.
The publication of Fastmarkets’ MB-AL-0022 aluminium P1020A premium, cif dup Brazilian main ports assessment for September 24 was delayed because of an editor error. Fastmarkets’ pricing database has been updated.
Read the full transcript from episode 6 of Fast Forward podcast on trading power and the role of the London Metal Exchange (LME) in the energy transition with CEO Matthew Chamberlain.
This week’s multiple announcements by the majority state-owned Saudi Arabian mining company Ma’aden that it was acquiring shares of aluminium producers in the region shows that the Middle Eastern aluminium industry has matured, according to Fastmarkets analyst Andy Farida