Irish Ispat, formerly known as Irish Steel, has appointed a new chief executive to replace Mr Richard Armstead, who has left the company after two years.

The man appointed is Mr Jerry Gorman, who is leaving his position as executive vice-president with steel firm Avesta Sheffield AB.

Mr Gorman spent many years working with British Steel where he has held the position of general manager of operations and director of Scunthorpe Works of British Steel General Steels. Mr Gorman said Irish Ispat was one of the most growth-driven steel companies in the world. Irish Steel was bought from the government by Ispat International in May 1996 for a £1.