Latin America-focused steelmaker Ternium has named Ternium Mexico’s vice president, Maximo Vedoya, as the group’s new CEO, the company said this week.
The company said the executive will take over Daniel Novegil’s seat effective on March 1, 2018. Novegil has been CEO for Ternium for 12 years.
Despite Novegil’s retirement, he will still be part of Ternium’s board of directors, as a vice chairman.
Vedoya, 47, is an industrial engineer and holds a Master in Science of Management degree from Stanford University.
“Vedoya is an exceptional leader who has had a proven track record of success in each of his executive positions at Ternium. Under his leadership, Ternium Mexico has been a growth engine for our company,” said Paolo Rocca, chairman of Ternium’s board of directors.