“Roland’s extensive industry experience will be most valuable to British Steel and its turnaround plan,” said Marc Meyohas, a partner with Greybull Capital, which acquired the business from Tata Steel earlier this year. British Steel was Tata’s European long products operation.

“An appointment of Roland’s caliber is a clear indication of the strong potential for the business and Greybull’s commitment to do all we can to support British Steel,” he said.  

Junck has been advising British Steel’s senior management team since mid-June. The company is continuing to search for a permanent chief executive, and once one is named, Junck will become British Steel’s nonexecutive chairman.

Junk is a steel industry veteran and had worked with Spain’s Aceralia and successor company Arcerlor. After Arcelor merged with Mittal Steel, he became the company’s first chief executive.

“I’m excited to take up the role of executive chairman at British Steel,” he said in a statement.  

“Over recent weeks I have visited many of our sites and have been very impressed by the drive and determination of our employees as they continue to take the business forward. While everyone is aware of the challenges the steel industry faces, British Steel already has a strong business plan in place. I look forward to guiding the British Steel team in the delivery of that plan and taking every opportunity to make this business more successful with its customers and markets."