CHARLOTTE, N.C. — Nucor Corp.’s chairman and CEO, John Ferriola, will retire on Dec. 31. The company says Leon Topalian, currently the youngest member of Nucor’s executive team, will take the chief executive position effective Jan. 1.
The Charlotte-based steelmaker says the moves are part of Nucor’s planned succession process. As a step in the plan, the board of directors appointed Topalian president and chief operating officer on Thursday. Ferriola had been president as well as CEO until Thursday’s move.
Ferriola has talked often about the plan, which he called “robust and thoughtful” when his retirement was announced Friday. “I believe now is the ideal time for me to transition Nucor’s leadership,” he says.
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