CHARLOTTE, N.C., Feb. 21, 2017 /PRNewswire/ -- Nucor
Corporation (NYSE: NUE) announced today that the independent
directors of its board of directors have appointed John H. Walker to serve as lead director of the
board of directors effective February
22, 2017. Mr. Walker has served as a member of Nucor's
board of directors since 2008 and has more than 30 years of
experience in metal-related manufacturing and fabricating
industries.
"John Walker has extensive
experience across metal-related industries, serving in a variety of
leadership capacities, and has a deep understanding of Nucor," said
John Ferriola, Nucor's Chairman,
Chief Executive Officer and President. "I am pleased that our
independent directors have selected John to serve in this role and
believe that his judgment and broad perspective will serve him well
as our lead director."
Raymond J. Milchovich, a member
of the board and prior lead director, notified the board of
directors on February 21, 2017 that
he would not stand for reelection as a director of the Company due
to other professional demands on his time.
"While I will miss contributing to a company and a leadership
team that I respect and admire, I couldn't be more pleased with
Nucor's current direction, leadership and momentum," said Mr.
Milchovich. "I believe Nucor's current strategy is sound,
thoughtful, and based on a very knowledgeable and savvy analysis of
a dynamic industry. John
Ferriola is an outstanding Chairman and CEO and John Walker, whom I have known and have worked
closely with for almost twenty years, is very knowledgeable,
experienced and strategic in his approach. I am extremely pleased
that John Walker will be working
closely with John Ferriola to lead
Nucor to its full potential."
"Ray has been an integral member of our board for several years
and, particularly as lead director since 2013, a valued teammate to
me in providing leadership to Nucor," said Mr. Ferriola. "I will
miss his sound judgment and counsel and remain very appreciative of
his many contributions to Nucor over the years."
"Ray Milchovich was an
exceptional lead director, promoting good corporate governance,
effective communication among directors and critical strategic
analysis at the board level," said Mr. Walker. "I am honored
to have been selected by the independent directors to serve as lead
director, and I am excited to work with John Ferriola, my fellow directors and all Nucor
teammates in the years to come."
Mr. Walker has served as Non-Executive Chairman of Global Brass
and Copper, Inc. since March 2014,
was Executive Chairman of Global Brass and Copper from November 2013 to March
2014 and was Chief Executive Officer from 2007 to
March 2014. Prior to joining Global
Brass and Copper, Mr. Walker was Chief Executive Officer and
President of The Boler Company, Chief Executive Officer, Chief
Operating Officer and President of Weirton Steel Corporation and
President of Kaiser Aluminum Flat Rolled Products. Mr. Walker
was a director of United Continental Holdings, Inc. from 2002 to
2016 and of Delphi Corporation from 2005 through 2009.
Nucor and its affiliates are manufacturers of steel products,
with operating facilities primarily in the U.S. and Canada.
Products produced include: carbon and alloy steel -- in bars,
beams, sheet and plate; hollow structural section tubing;
electrical conduit; steel piling; steel joists and joist girders;
steel deck; fabricated concrete reinforcing steel; cold finished
steel; steel fasteners; metal building systems; steel grating; and
wire and wire mesh. Nucor, through The David J. Joseph
Company, also brokers ferrous and nonferrous metals, pig iron and
HBI/DRI; supplies ferro-alloys; and processes ferrous and
nonferrous scrap. Nucor is North
America's largest recycler.
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SOURCE Nucor Corporation