Nucor names new president

Charlotte, North Carolina-based Nucor Corp. has announced that Stephen D. Laxton, currently its chief financial officer (CFO) and executive vice president, is being promoted to president and chief operating officer (COO) effective Jan. 1, 2026.

Nucor, which makes recycled-content steel and operates the David J. Joseph network of metals recycling facilities, says David A. Sumoski, who has served as COO since 2021, will retire effective June 13, 2026, after more than 30 years with the company.

The newly promoted Laxton began with Nucor in 2003 and has served in several roles, becoming Nucor’s CFO and executive vice president in 2022.

Nucor says it will conduct a search for a new CFO, and Laxton will continue to serve in that role until a new one is appointed

"Over the past 22 years, Steve has demonstrated exceptional leadership and strategic vision and has been instrumental to Nucor’s success,” says Leon Topalian, Nucor’s board chair and CEO.

“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,” adds Topalian.

Continues the CEO, "Dave’s retirement and Steve’s promotion reflect our ongoing succession planning process that has been a strategic priority throughout Nucor for many years.”

Sumoski will transition from his current responsibilities on Jan. 1, 2026, and between then and his retirement in June will continue as an executive vice president and work closely with Topalian and Laxton to ensure a seamless transition, says the firm.

The retiring executive joined Nucor in 1995 as an electrical supervisor at its Berkeley mill in Huger, South Carolina, and served there as maintenance manager. Subsequent roles held by Sumoski include vice president and general manager of Nucor Steel Marion in Ohio and Nucor Steel Memphis in Tennessee before he was named an executive vice president in 2014 and COO in 2021.

“Dave has had an indelible impact on Nucor, and we are deeply appreciative of his leadership over the past 30 years,” says Topalian. “His tenure has been defined by his deep operational knowledge, strategic thinking and passion for steelmaking. He has played a pivotal role in driving our safety culture and operational excellence across the enterprise.”