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
"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
An electrical engineer by
training, Ferriola began his career with Bethlehem Steel Corp.
"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
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