Liberty's European division is headquartered in Vienna

Liberty Steel has appointed Thomas Gangl as chief executive of its European division, effective July 1, and has chosen Vienna as the location for its European headquarters.

Gangl is currently CEO and Chairman of the Board of the Vienna-based chemical company Borealis, and previously held various management positions at the Austrian oil company OMV. It will focus on stabilizing Liberty's European operations, which employ 17,000 people, optimizing production and ensuring the transition to green steel by 2030.

Gangl's appointment follows progress in restructuring Liberty's European debt and is part of a wider plan to create a new European holding company, registered in Vienna. The Austrian capital is located in central Europe, close to Liberty's main factories, with excellent financial and professional services, Liberty said.

Liberty European Upstream's interim CEO Theuns Victor will join Gangl from July and will then return to his role leading industrial projects and development to deliver on the group's carbon-neutral ambitions. Green Steel EMEA CEO Toker Ozcan will now focus on leading Liberty's UK operations following a recent agreement with lenders Greensill.

“Thomas’ experience in managing complex business environments and large capital projects will be vital as we stabilize our business in Europe, seek to attract fresh capital and move away from coal-based steel production. The creation of a new European group, headquartered in Vienna, will mark a new chapter for our business, focusing on leading the development of clean steel in neighboring countries in Central and Eastern Europe,” said Sanjeev Gupta, Liberty’s executive chairman.