Brian Malloy, the chief executive of Carpenter Technology, has died suddenly at the age of 59, just three weeks after taking over leadership of the $3 billion (£2.3 billion) steel corporation. The Pennsylvania-based specialty alloys manufacturer announced his death, describing it as sudden and unexpected, though no cause has been given. His death leaves the company, which supplies materials to the aerospace, defence and medical industries, needing to quickly address its leadership succession.

Malloy had only recently been promoted to the top job at Carpenter Technology before his unexpected passing. The company has not disclosed further details surrounding the circumstances of his death, and it remains unclear who will take over as chief executive in the interim or on a permanent basis.