Steel Mills
Topalian to Succeed Ferriola as Nucor CEO
Written by John Packard
September 8, 2019
Nucor Corp. has announced a change in leadership as part of its planned succession process. John J. Ferriola, 67, will retire as Chairman and Chief Executive Officer on Dec. 31. Leon J. Topalian, 51, was named President and Chief Operating Officer, effective Sept. 5, and will succeed Ferriola as CEO on Jan. 1, 2020.
Ferriola has served as Chairman since 2014 and as CEO since 2013. Previously, he served as President from 2011 to September 2019, President and Chief Operating Officer from 2011 to 2012, Chief Operating Officer of Steelmaking Operations from 2007 to 2010, Executive Vice President from 2002 to 2007, and Vice President from 1996 to 2001. He has also been a director of Nucor since 2011. He joined Nucor in 1991 as the Manager of Maintenance and Engineering at Nucor Steel-Texas. He later served as General Manager of Vulcraft-Texas, Nucor Steel-Nebraska and Nucor Steel-Indiana.
“It has been a great privilege and honor to be a Nucor teammate for over 28 years and to serve as Nucor’s CEO for the past seven years,” said Ferriola. “One of my key priorities as CEO over the past several years has been to lead a robust and thoughtful succession process, and I believe now is the ideal time for me to transition Nucor’s leadership. I could not be more supportive of Leon as the next CEO. He has been an exceptional and proven leader throughout his 23-year career with Nucor, and I am confident in his selection as my successor. I look forward to working with Leon and the Board to ensure a smooth transition over the coming months.”
John H. Walker, Nucor’s lead independent director, said, “John Ferriola has been a thought leader in the steel industry and helped position Nucor at the forefront of its peers. The Board is deeply appreciative of his excellent leadership and service to Nucor, and we wish John the very best in his well-deserved retirement. At the same time, the Board is excited to announce that Leon Topalian will be the next CEO, and we are confident that he is ideally positioned to lead Nucor in the coming years.”
Topalian had served as an Executive Vice President of Nucor from 2017 to 2019 and a Vice President from 2013 to 2017. He has been employed by Nucor in various capacities since 1996, including serving as general manager at two Nucor facilities in Arkansas and Illinois, as well as a Melting and Casting Manager, an Operations Manager, a cold mill production supervisor and a project engineer.
“I am honored to be given the opportunity to serve as Nucor’s next CEO and appreciate the confidence of the Board and John Ferriola,” Topalian said. “John has provided us with strong leadership and vision, and I look forward to working with all 26,700 Nucor teammates to continue positioning Nucor as the industry leader.”
John Packard
Read more from John PackardLatest in Steel Mills
Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.
Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.