- Push-out Score determined
- After seven years in the position
- Praise and good wishes for Ferriola
- Leon Topalian taking over
- Ferriola said 119 words
(exechange) — Charlotte, North Carolina, September 6, 2019 — John Ferriola, chief executive of Nucor, leaves. As announced by Nucor Corp. in a news release on Friday, September 6, 2019, John J. Ferriola leaves his post as Chief Executive Officer at the largest U.S. steelmaker after seven years in the role, effective December 31, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.3 years, according to data compiled by exechange.
John Ferriola’s duties as CEO will be taken over by Leon J. Topalian, most recently Executive Vice President of Nucor Corporation.
“Planned succession process”
John Ferriola’s departure from the CEO post is explained as follows. Nucor said: “Nucor Corporation (NYSE: NUE) announced today that John J. Ferriola, 67, will retire as Chairman and Chief Executive Officer (CEO) on December 31, 2019 and that the Board of Directors elected Leon J. Topalian, 51, to be President and Chief Operating Officer, effective September 5, 2019, and to succeed Mr. Ferriola as CEO on January 1, 2020, in connection with Nucor’s planned succession process.”
Precise information regarding John Ferriola’s future plans was not immediately available.
Share price increase since January 2013
The announcement follows an increase in Nucor Corporation’s share price of 9% since January 2013.
In the position of CEO since 2013
John Ferriola became CEO of the Company in January 2013.
Ferriola has served as Chairman of Nucor since January 2014 and Chief Executive Officer and President of Nucor since January 2013.
Previously, Ferriola served as President and Chief Operating Officer of Nucor from January 2011 to December 2012.
Prior to that, Ferriola served as Chief Operating Officer of Steelmaking Operations of Nucor from 2007 to 2010, Executive Vice President from 2002 to 2007 and Vice President from 1996 to 2001.
He currently serves as Vice Chairman of the American Iron and Steel Institute and is on the Executive Committee of the World Steel Association and the National Association of Manufacturers.
Ferriola has been active in the Association for Iron and Steel Technology for over 30 years and has served on its board of directors.
He has also served on the board of directors and as Chairman of the Steel Manufacturers Association.
With a degree in electrical engineering, Ferriola worked in various operating and management roles in the steel industry before joining Nucor.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Nucor and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 36.2019 ($).