Nucor Names Ray Milchovich Lead Director

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Sep 04, 2013, 03:55 ET

CHARLOTTE, N.C., Sept. 4, 2013 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that its board of directors appointed Raymond J. Milchovich as lead director effective September 5, 2013. Daniel R. DiMicco will continue to serve as Executive Chairman of Nucor.

Mr. Milchovich has most recently served on Nucor's board since September 2012 and previously served on Nucor's board from 2002 through 2007. In November 2011, Mr. Milchovich retired from Foster Wheeler AG, a global engineering and construction company serving primarily the energy infrastructure markets in 25 countries, where he served as chairman, chief executive officer and president.

Mr. Milchovich began his career in the steel industry, holding a variety of operating management positions for Wisconsin Steel Corporation and Wheeling-Pittsburgh Steel Corporation. He then joined Kaiser Aluminum and Chemical Corporation in 1980 where he progressed from operations management to become chairman, chief executive officer and president. Mr. Milchovich served on the board of Delphi Corporation from 2005 through 2009.

Mr. Milchovich replaces Peter C. Browning as lead director. Mr. Browning, who will continue to be a member of Nucor's board, became a director of Nucor in 1999. He served as Non-Executive Chairman of Nucor from 2000 to 2006 and has served as Nucor's lead director since 2006.

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and non ferrous scrap. Nucor is North America's largest recycler.

SOURCE Nucor Corporation