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Nucor's Ferriola to succeed DiMicco

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NUE $39.43 +$0.07

at close on FRIDAY

By Sonja Elmquist C.2012 Bloomberg News
Saturday, Nov. 17, 2012, 12:01 a.m.

Nucor Corp., the largest U.S. steelmaker by market value, said Chief Operating Officer John J. Ferriola will take over from Daniel R. DiMicco as chief executive officer on Jan. 1.

DiMicco, 62, who has led the Charlotte, N.C.- based company for 12 years, will become executive chairman, Nucor said in a statement.

“Nucor has taken a lot of care with this transition,” said Michelle Applebaum, managing partner at consultant Steel Market Intelligence in Chicago. “In my 30 years in the steel business, I've seen only a half-dozen visionaries of Dan DiMicco's caliber.”

Ferriola began his career with Bethlehem Steel Corp. in 1974 and joined Nucor in 1992 as manager at a Texas mill, Nucor said. He was appointed to the board of directors in 2011.

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