Nucor to stay the course with Ferriola at helm

Jul 12, 2013 | 02:16 PM | Anne Riley

Tags  John Ferriola, Daniel DiMicco, Nucor, steel, imports, DRI, Rick Blume, Anne Riley

NEW YORK — It’s been six months since John Ferriola was named Daniel DiMicco’s successor as chief executive officer of Nucor Corp., but if you ask him how the Charlotte, N.C.-based steelmaker’s strategy has changed since he took the reins, Ferriola will be the first to tell you: not much.

"When you talk about the transition in place and the leadership team at Nucor, the first thing to remember is this has been a planned transition. This has been a very, very, very robust succession plan that has been in effect frankly for several years," Ferriola told AMM in an interview in New York.

Ferriola, who joined Nucor in 1992 as manager of maintenance and engineering at the company’s bar mill in Jewett, Texas, was appointed to a number of key leadership roles at the company—including executive vice president in 2002, chief operating officer of Nucor’s steelmaking operations in 2007 and president and chief operating officer in 2011—before stepping into his current position.

"That (progression) allowed for a lot of things to happen. One, that allowed for me to work with Dan on a regular basis very closely for several years," Ferriola said, noting that he and DiMicco went to lunch together nearly every day during that period to discuss the company and its goals.

"We would talk about what he sees that has been important to him. What are the metrics that he looks for in the market? What does he feel is important in the role of a CEO? And, of course, it gave him the opportunity frankly to grill me on those same topics and see how that transition is progressing and become comfortable with it. So it’s important to remember it’s been a long, planned transition," Ferriola said.....

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