NEW YORK Nucor Corp.s Daniel DiMicco will step down as chief executive officer on Jan. 1, and will be succeeded by president and chief operating officer John J. Ferriola.
Ferriola will take over as head of the Charlotte, N.C.-based steelmaker on New Years, and DiMicco will stay on as executive chairman, Nucor said in a statement Friday.
"Nucor couldnt be in better hands," DiMicco said in the statement. "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 started at Nucor in 1992 as a manager of maintenance and engineering at the companys bar mill in Jewett, Texas, the company said. He was named executive vice president in 2002. He was named chief operating officer of Nucors steelmaking operations in 2007 and appointed president and chief operating officer in January 2011.
An electrical engineer by training, Ferriola began his career with Bethlehem Steel Corp. in 1974.
"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 Nucors earnings platform well into the future," Ferriola said in the statement.
DiMicco succeeded H. David Aycock as president and chief executive officer of Nucor in September 2000.
Editor's note: This story was updated Nov. 19, 2012. Due to an editing error, it had incorrectly stated that Daniel DiMicco succeeded F. Kenneth Iverson as chief executive officer. DiMicco succeeded H. David Aycock as president and chief executive officer in September 2000.