Nucor taps Laxton as president and COO, Sumoski to retire

Nucor has promoted Stephen D. Laxton, currently CFO and EVP, to president and COO, effective Jan. 1.

The Charlotte, N.C.-based steel manufacturer said David A. Sumoski, COO since 2021, will retire effective June 13, 2026, after more than 30 years of service.

Laxton started at Nucor in 2003 as general manager of business development. He has been CFO and EVP since 2022.

Nucor will conduct a search for a new CFO, and Laxton will continue to serve in the role until it’s filled.

“Steve’s new role as president and COO will give him an opportunity to have an even greater impact, and I look forward to working with him in this next chapter of his leadership,” Leon Topalian, Nucor chair and CEO, said in a statement on Thursday.

“Dave’s retirement and Steve’s promotion reflect our ongoing succession planning process that has been a strategic priority throughout Nucor for many years,” he added.

Sumoski is set to transition from his current responsibilities on Jan. 1. Until his retirement, he will continue as an EVP and advisor to Topalian.

“Dave has had an indelible impact on Nucor, and we are deeply appreciative of his leadership over the past 30 years,” Topalian said.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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