Nucor Executive Vice President Douglas J. Jellison to Retire; Randy J. Spicer to be Promoted

Rhea-AI Summary

Nucor announced the retirement of Executive Vice President Douglas J. Jellison after 33 years of service and the promotion of Randy J. Spicer to Executive Vice President. Jellison's retirement is effective June 8, 2024, while Spicer's promotion will be effective May 12, 2024. Jellison held various key positions within Nucor, while Spicer brings 20 years of experience to his new role. The succession planning process at Nucor has been described as robust and thoughtful, ensuring a smooth transition in leadership.

Positive

• Randy J. Spicer's promotion to Executive Vice President showcases Nucor's commitment to internal talent development and succession planning, ensuring continuity in leadership roles.

• Nucor's leadership expressed gratitude to Douglas J. Jellison for his significant contributions over the last three decades, highlighting his achievements in leading various businesses and overseeing key strategies within the company.

• The retirement of Douglas J. Jellison signifies a new chapter for Nucor, allowing for fresh perspectives and leadership approaches to drive the company forward.

Negative

• The retirement of a long-standing Executive Vice President like Douglas J. Jellison may lead to some instability or uncertainty within certain business units as new leadership transitions take place.

• Nucor may face challenges in integrating Randy J. Spicer into his new role as Executive Vice President, potentially impacting operational efficiency or decision-making processes temporarily.

CHARLOTTE, N.C., May 10, 2024 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that Executive Vice President Douglas J. Jellison plans to retire on June 8, 2024 after more than 33 years of service with Nucor.

Mr. Jellison began his Nucor career in 1990 as Materials Manager at Nucor Bearing Products and has worked in various positions and businesses, including several controller and business development roles.  Mr. Jellison served as General Manager of Nucor Bearing Products; Vice President and General Manager of Nucor Steel Seattle, Inc.; Vice President and General Manager of Nucor-Yamato Steel Company; President of Nucor Tubular Products; and President of Skyline Steel LLC. He was promoted to Executive Vice President in 2021.

Leon Topalian, Nucor's Chair, President and Chief Executive Officer commented, "I am incredibly grateful for Doug's contributions over the last three decades. Throughout his career, he influenced a broad spectrum of Nucor's businesses. He successfully led significant facilities, oversaw international operations, integrated and shaped acquisitions and spearheaded key enterprise strategies. His unyielding ability to drive change, overcome challenges and seek out the best outcomes is unparalleled. Most importantly, he lives Nucor's culture in developing teammates and making everyone around him better. He is one of a kind. On behalf of all teammates, I want to thank Doug for his leadership and wish him a long and happy retirement."

Effective May 12, 2024, Randy J. Spicer will be promoted to Executive Vice President. Mr. Spicer began his Nucor career in 2004 as Accounting Supervisor at Nucor Steel Indiana. In 2006, he joined the start-up team at Nucor Steel Memphis, Inc. as Controller and subsequently served as Controller and Hot Mill Manager at Nucor Steel Gallatin LLC. He was promoted to General Manager of Nucor Tubular Products North in 2020 and elected to Vice President in 2022. He currently serves as President of Nucor Tubular Products.

"Randy is a talented leader whose 20 years of Nucor experience help make him well-positioned to take on this challenging role. We look forward to his contributions to the executive leadership team," said Mr. Topalian. "Doug's retirement and Randy's promotion are the product of the robust and thoughtful succession planning process that has been a top strategic initiative throughout Nucor."

About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

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SOURCE Nucor Corporation

FAQ

When will Douglas J. Jellison retire from Nucor ?

Douglas J. Jellison plans to retire on June 8, 2024, after more than 33 years of service with Nucor.

Who will be promoted to Executive Vice President at Nucor ?

Randy J. Spicer will be promoted to Executive Vice President, effective May 12, 2024.

What products does Nucor manufacture?

Nucor and its affiliates manufacture a wide range of steel and steel products, including carbon and alloy steel, hollow structural section tubing, steel racking, steel joists, and many others.