Steel in the News
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Posted by Tasha Weiss on November 20, 2012 at 12:50 PM.
Daniel R. DiMicco, chief executive officer and executive chairman of Nucor Corporation, recently announced that he is passing the privilege and responsibility of CEO on to current president and COO, John J. Ferriola, effective January 1, 2013. DiMicco will remain with Nucor as executive chairman.
DiMicco (pictured left) has served as CEO for more than 12 years and has led Nucor through one of its most profitable growth periods and an industry-leading total shareholder return of 463.9%. He is also last year’s recipient of the prestigious Robert P. Stupp Award for Leadership Excellence. The award, presented on a selective basis by AISC, gives special recognition to individuals who have provided unparalleled leadership in the steel construction industry.
“Dan DiMicco has been one of the nation’s outstanding CEOs,” said Peter C. Browning, Nucor’s lead independent director. “I believe one of his most remarkable and lasting achievements was his ability to retain and strengthen Nucor’s unique culture, even as Nucor’s strategy evolved.”
DiMicco commented, “Nucor couldn’t be in better hands. I’m very confident in the ability of John and the rest of our management team to take on our current and future challenges and to lead the company’s continual growth in the coming years. For the Board and me, it has been absolutely critical for the next Nucor CEO to come from within, and nothing brings me greater satisfaction than for John to be CEO going forward.”
Ferriola (pictured right) has stepped repeatedly into roles of increasing responsibility as part of Nucor’s succession planning. An electrical engineer by training, he began his career with Bethlehem Steel Corporation in 1974. He joined Nucor in 1992 as manager of maintenance and engineering at the Jewett, Texas, bar mill.
Through his two decades with the company, Ferriola served as general manager at three divisions: Vulcraft Texas in Grapeland, the bar mill in Norfolk, Neb., and the sheet mill in Crawfordsville, Ind. He was named Executive Vice President in 2002, then COO of Steelmaking Operations in 2007. In January 2011, the Board of Directors appointed him Nucor’s President and COO and elected him to the Board.
“I am honored to be given the opportunity to lead the tremendous team we’ve assembled,” said Ferriola. “We have many challenges in front of us as we continue to work safely and take care of our customers. I am extremely excited about the impressive work being done by our team to significantly grow Nucor’s earnings platform well into the future.”