Alan Kestenbaum to return as chief executive of Stelco Holdings Inc.

Stelco Holdings Inc. says Alan Kestenbaum will return as the company's chief executive.

Kestenbaum will return to the job effective Feb. 21.

He will replace David Cheney, who is stepping down and returning to Bedrock Industries.

Kestenbaum previously served as Stelco's chief executive from the closing of Stelco's initial public offering in November 2017 until February 2019.

He is currently acting as Stelco's executive chairman.Kestenbaum said"I am excited to be returning soon to the CEO role to continue leading the Company through its next phase of growth".

Stelco went into creditor protection in 2004 and was sold as a subsidiary to U.S. Steel Co. in 2007, then went back into creditor protection in 2014 before being sold to Bedrock Industries L.P. in late 2016.

Back in November Stelcoannounced that revenues for its third quarter dropped 23 per cent as steel prices dipped.