Green steel innovator Stegra has announced a key leadership change, appointing Markus Holm as its new Chief Financial Officer, effective March 1, 2026. Holm will succeed Otto Gernandt, a founding management team member who is transitioning to a senior advisor role. This strategic appointment comes as Stegra advances construction of its integrated green steel plant, signaling a new phase of financial stewardship.
A Strategic Leadership Transition
The transition is designed to ensure seamless continuity for the company's financial operations and strategic goals. Otto Gernandt, after five years as CFO, will step down to pursue new opportunities but will remain as a senior advisor. In this capacity, he will focus on the company's ongoing and critical funding initiatives.
CEO Henrik Henriksson noted that Gernandt communicated his intentions some time ago, allowing for a well-planned transition. Henriksson expressed appreciation for Gernandt's continued support during the current financing round and wished him well. This managed handover highlights the company's focus on stable leadership during its expansion.
Introducing the New Financial Head
Markus Holm brings over two decades of extensive financial and executive experience to Stegra. His background spans multiple sectors, including the processing industry, green energy, and dynamic start-up environments. This diverse expertise is a crucial asset as the company scales its industrial impact in green technology.
Holm's career includes several high-level positions, most recently as CFO and Board Member of Elcogen Group. He previously held CFO roles at Metsä Board and Metsä Tissue Corporation, as well as CFO and COO of Sanoma Corporation. This background demonstrates his capability in managing complex financial operations for large firms.
According to CEO Henrik Henriksson, Holm's professional background is an ideal match for Stegra's ambitious scale-up journey. Beyond his technical skills, his values were cited as aligning perfectly with the company's leadership culture. The CEO expressed enthusiasm for welcoming Holm to the executive team to guide the company's future.
Gernandt's Legacy and Stegra's Trajectory
Otto Gernandt has been an instrumental figure at Stegra since joining as a founding management team member in 2020. He is credited with spearheading the company's groundbreaking financing efforts, which were essential for its launch. His contributions were also pivotal in the commercial work that helped establish the market for green steel.
Founded in 2020, Stegra has made significant strides in realizing its vision of sustainable steel production. The company commenced construction of its integrated plant in 2022 following successful initial funding and permitting. This facility is designed to produce green hydrogen, green iron, and ultimately, green steel at scale.
The project is now advancing into a critical phase, with much of the civil engineering work completed. Current efforts are concentrated on the engineering and installation of key equipment for the hydrogen, iron, and steel mill areas. Supporting infrastructure, including a water treatment plant and on-site power plant, is also under construction.
This leadership transition marks a pivotal moment for Stegra as it prepares for its next stage of operational and financial growth. The appointment of Markus Holm brings seasoned financial expertise tailored for industrial expansion, while the planned handover ensures stability. With its plant construction progressing, Stegra is positioning itself as a major force in the global green steel industry.