Nucor Announces Executive Vice President MaryEmily Slate to Retire, John Hollatz to be Promoted and Other Executive Vice President Changes

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May 13, 2022, 09:00 ET

CHARLOTTE, N.C., May 13, 2022 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that MaryEmily Slate, Executive Vice President of Commercial, plans to retire due to health issues on June 11, 2022 after more than 21 years of service with Nucor.

Ms. Slate began her career with Nucor in 2000 as District Sales Manager at Nucor Steel Arkansas. She later served as Sales Manager at Nucor Steel Decatur, LLC and then as Cold Mill Manager. In 2010, Ms. Slate was promoted to General Manager of Nucor Steel Auburn, Inc. and was elected Vice President in 2012. She was promoted to Vice President of Nucor Steel Arkansas in 2015 and to Executive Vice President in 2019.

Leon Topalian, Nucor's President and CEO, commented, "For more than 21 years, MaryEmily's dedication, exceptional leadership and commitment to excellence have contributed greatly to the growth and profitability of Nucor. More importantly, her passion for encouraging and developing teammates will be one of her lasting legacies. On behalf of the Board of Directors and all Nucor teammates, I want to extend our deep appreciation to MaryEmily for her leadership and commitment to making Nucor a better company. We wish the very best for MaryEmily and her family."

Nucor also announced the following additional executive-level changes:

Effective May 15, 2022, Dan Needham, Nucor's Executive Vice President of Bar, Engineered Bar and Rebar Fabrication Products, will become Executive Vice President of Commercial. In his new role, Mr. Needham will focus on Nucor's comprehensive enterprise commercial strategy.

Mr. Needham joined Nucor in 2000 as Controller at Nucor Steel Hertford County and subsequently served as Controller of Nucor Steel Decatur, LLC and Nucor Steel Utah. Mr. Needham later served as General Manager of Nucor Steel Connecticut, Inc., Nucor Steel Utah and Nucor Steel Indiana. He was promoted to Vice President in 2016 and to Executive Vice President in February 2021.

Also effective May 15, 2022, John Hollatz will be promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication Products. Mr. Hollatz began his career with Nucor in 1999 as Design Engineer at Vulcraft Indiana and then served as Sales Engineer and Sales Manager at Vulcraft Nebraska. Mr. Hollatz later served as General Manager of Nucor Building Systems South Carolina, General Manager of Vulcraft Indiana and President of the Vulcraft/Verco Group. He was promoted to Vice President in 2016 and currently serves as Vice President and General Manager of Nucor Steel Decatur, LLC.

Chad Utermark, Nucor's Executive Vice President of Fabricated Construction Products, has been appointed to the newly created position of Executive Vice President of New Markets and Innovation effective May 15, 2022. In his new role, Mr. Utermark will focus on Nucor's continued growth into new markets and the integration of new businesses into the core operations of the Company.

Mr. Utermark began his career as a utility operator at Nucor Steel Arkansas in 1992, subsequently serving as shift supervisor and Hot Mill Manager at that division and then Roll Mill Manager at Nucor Steel Texas. He later served as General Manager of Nucor Steel Texas and Nucor-Yamato Steel Company. He was promoted to Vice President in 2009 and to Executive Vice President in 2014.

Mr. Utermark's successor will be named at a later date.

"I am very pleased to announce these executive management team changes," said Mr. Topalian. "John is a talented leader who will be a strong addition to our executive team. These changes, including the addition of Chad's new role, will enable our team to focus on the significant strategic investments we have made and will continue to make into new markets while also continuing to grow our core steelmaking business."

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; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, 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.

Forward-Looking Statements

Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words "anticipate," "believe," "expect," "intend," "project," "may," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company's best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; and (14) the impact of the COVID-19 pandemic and any variants of the virus. These and other factors are discussed in Nucor's regulatory filings with the United States Securities and Exchange Commission, including those in "Item 1A. Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2021. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.

SOURCE Nucor Corporation