Alan Lovell became chair of British Steel on Monday 14 September, taking charge as the company faces a critical period. The Government appointed him to lead the board through stabilisation and set a sustainable long-term direction for the business.
Lovell brings decades of experience in business turnarounds, most notably at Costain during the 1990s. He served as finance director and later chief executive, guiding the company through severe financial difficulties.
A track record in recovery
At Costain, Lovell reduced net debt from a peak of £450 million and returned five out of six divisions to profitability. This experience is central to his reputation and the Government’s decision to entrust him with British Steel's future.
His background also includes roles at Carillion, where he chaired the restructuring committee before the company entered compulsory liquidation, and at Interserve Group, which he steered through asset sales and a relaunch after administration.
Leading British Steel’s transformation
British Steel supplies products to construction and infrastructure projects across the UK, including highways schemes. The Government’s intervention to bring the company into public ownership underlines its strategic importance.
Business Secretary Jonathan Reynolds said Lovell’s appointment brings essential expertise to the table during a period of major change. He emphasised the need to work closely with employees, the board and local communities.
What this means for UK infrastructure
British Steel plays a key role in supplying steel for infrastructure, defence, and construction projects. Lovell’s leadership aims to secure a sustainable future for the company, its workforce, and its supply chain.
While the outcome of the turnaround is not guaranteed, Lovell’s remit is clear: lead British Steel through stabilisation and transformation with government support. Additional board appointments are expected to follow.
Experienced leadership across sectors
Lovell’s wider career includes executive roles in infrastructure, construction, energy, and financial services. He has also chaired the Environment Agency since September 2022 and continues in that role until the end of 2026.
He described British Steel as "a cornerstone of the UK economy" and highlighted the company’s role in defence, infrastructure, and building projects.
“Together with my fellow board members, I am looking to the future with great optimism,” Lovell said. “We are focused on building a sustainable business for our dedicated employees, valued customers and suppliers, and the tens of thousands of people in our supply chains.”
