"This announcement reflects the thoughtful, planned transition of leadership at Nucor," Browning said. "John's appointment as President in 2011 provided the opportunity for John and Dan to work together even more closely the past two years, laying the groundwork for a seamless change in leadership."
DiMicco said, "Nucor couldn't be in better hands. I'm very confident in the ability of John and the rest of our management team to take on our current and future challenges and to lead the company's continual growth in the coming years. For the Board and me, it has been absolutely critical for the next Nucor CEO to come from within, and nothing brings me greater satisfaction than for John to be CEO going forward.
"As Executive Chairman, I look forward to continuing to work with and provide strong support to the executive team led by John in the areas of corporate growth, strategic succession planning and Nucor's efforts to promote a strong, vibrant manufacturing base."
Under DiMicco, Nucor developed a five-point growth plan designed to strengthen and diversify Nucor's earnings power in both the peaks and troughs of the steel industry's business cycle. From September 2000 through the end of 2011, Nucor's total return to shareholders was 463.9%, dwarfing the returns of both the Standard & Poor's 500 Index (4.3%) and the S&P Steel Industry Group Index (173.9%).In 2005, BusinessWeek magazine ranked Nucor the nation's No. 1 company, based on sales growth and return on investment. In the coming years, Nucor and Dan DiMicco made three additional appearances on the BusinessWeek 50 list. Harvard Business Review included DiMicco in its 2010 top 100 list of The Best Performing CEOs in the World, and in 2011, he was named to Industry Week magazine's Manufacturing Hall of Fame. As always, DiMicco would be the first to tell you these are all Nucor team awards and not possible without their continued successes and support.