Nucor names new president

Nucor Corp. has named Stephen D. Laxton, currently its chief financial officer (CFO) and executive vice president, as president and chief operating officer (COO) effective Jan. 1, 2026.

David A. Sumoski, who has served as COO since 2021, will retire effective June 13, 2026, after more than 30 years with the company.

Laxton began at Nucor in 2003 and has served in several roles, becoming Nucor’s CFO and executive vice president in 2022. Charlotte, North Carolina-based Nucor makes recycled steel and operates the David J. Joseph network of metals recycling facilities.

Nucor plans to 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,” Nucor CEO Leon Topalian says. “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.

"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 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 through the transition.

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. His subsequent roles 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,” Topalian says. “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.”