11/16/2012 10:44:00 AM
NEWS BRIEFS
Nucor Corp. Names New CEO
John Ferriola
Longtime Nucor Corp. CEO Dan DiMicco is stepping down.
Replacing him is current COO John Ferriola, who will take the helm on January 1, 2013.
An electrical engineer by training, Ferriola began his career with Bethlehem Steel in 1974. He joined Nucor in 1992 as manager of maintenance and engineering at the Jewett, TX, bar mill.
Through his first decade with the company, Ferriola served as GM at three divisions: Vulcraft Texas in Grapeland; the bar mill in Norfolk, NE; and the sheet mill in Crawfordsville, IN.
Ferriola was named Executive VP 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.
DiMicco, 62, has been CEO for more than 12 years — longer than anyone since Nucor founder Ken Iverson. DiMicco will remain with Nucor as Executive Chairman.
Under DiMicco, Nucor developed a five-point growth plan. From September 2000 through the end of 2011, Nucor’s total return to shareholders was 463.9%, dwarfing the returns of both the Standard & Poor’s 500 Index (4.3%) and the S&P Steel Industry Group Index (173.9%).
In 2005, BusinessWeek magazine ranked Nucor the nation’s No. 1 company based on sales growth and return on investment. In the coming years, Nucor and Dan DiMicco made three additional appearances on the BusinessWeek 50 list.
Harvard Business Review included DiMicco in its 2010 top 100 list of The Best Performing CEOs in the World, and in 2011, he was named to Industry Week magazine’s Manufacturing Hall of Fame. ©2012 GlobalFastenerNews.com
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