CHARLOTTE, N.C., Sept. 6, 2019 /PRNewswire/ -- Nucor
Corporation (NYSE: NUE) announced today that John J. Ferriola, 67, will retire as Chairman
and Chief Executive Officer (CEO) on December 31, 2019 and that the Board of Directors
elected Leon J. Topalian, 51, to be
President and Chief Operating Officer, effective September 5, 2019, and to succeed Mr. Ferriola as
CEO on January 1, 2020, in connection with Nucor's planned
succession process.
Mr. Ferriola has served as Chairman since 2014 and as CEO since
2013. Previously, he served as President from 2011 to September 2019, President and Chief Operating
Officer from 2011 to 2012, Chief Operating Officer of Steelmaking
Operations from 2007 to 2010, Executive Vice President from 2002 to
2007, and Vice President from 1996 to 2001. He has also been a
director of Nucor since 2011. Mr. Ferriola joined Nucor in 1991 as
the Manager of Maintenance and Engineering at Nucor Steel-Texas. He
later served as General Manager of Vulcraft-Texas, Nucor
Steel-Nebraska and Nucor Steel-Indiana.
"It has been a great privilege and honor to be a Nucor teammate
for over 28 years and to serve as Nucor's CEO for the past seven
years," said Ferriola. "One of my key priorities as CEO over the
past several years has been to lead a robust and thoughtful
succession process, and I believe now is the ideal time for me to
transition Nucor's leadership. I could not be more supportive of
Leon as the next CEO. He has been an exceptional and proven leader
throughout his 23-year career with Nucor, and I am confident in his
selection as my successor. I look forward to working with Leon and
the Board to ensure a smooth transition over the coming
months."
John H. Walker, Nucor's lead
independent director, said, "John
Ferriola has been a thought leader in the steel industry and
helped position Nucor at the forefront of its peers. The Board is
deeply appreciative of his excellent leadership and service to
Nucor, and we wish John the very best in his well-deserved
retirement. At the same time, the Board is excited to announce that
Leon Topalian will be the next CEO,
and we are confident that he is ideally positioned to lead Nucor in
the coming years."
Mr. Topalian had served as an Executive Vice President of Nucor
from 2017 to 2019 and a Vice President from 2013 to 2017. He has
been employed by Nucor in various capacities since 1996, including
serving as general manager at two Nucor facilities, in Arkansas and Illinois, as well as a Melting and Casting
Manager, an Operations Manager, a cold mill production supervisor
and a project engineer.
"I am honored to be given the opportunity to serve as Nucor's
next CEO and appreciate the confidence of the Board and
John Ferriola," Topalian said. "John
has provided us with strong leadership and vision, and I look
forward to working with all 26,700 Nucor teammates to continue
positioning Nucor as the industry leader."
About Nucor
Nucor and its affiliates are manufacturers of steel and steel
products, with operating facilities in the U.S. and Canada. Products produced include: carbon and
alloy steel -- in bars, beams, sheet and plate; hollow structural
section tubing; electrical conduit; steel piling; steel joists and
joist girders; steel deck; fabricated concrete reinforcing steel;
cold finished steel; precision castings; steel fasteners; metal
building systems; steel grating; and wire and wire mesh. Nucor,
through The David J. Joseph Company, also brokers ferrous and
nonferrous metals, pig iron and hot briquetted iron / direct
reduced iron; supplies ferro-alloys; and processes ferrous and
nonferrous scrap. Nucor is North
America's largest recycler.
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SOURCE Nucor Corporation