Steel manufacturer Nucor Corporation has promoted Steve Laxton to President and Chief Operating Officer, effective 1 January 2026.
Laxton, who serves as Chief Financial Officer and Executive Vice President, joined Nucor in 2003 as General Manager of Business Development and became a Vice President in 2014. He has been in his current CFO role since 2022. Nucor will start the search for a new CFO, with Laxton continuing in the position until the appointment is made.
Commenting on his appointment, Nucor's Chair and Chief Executive Officer Leon Topalian said: “Over the past 22 years, Steve has demonstrated exceptional leadership and strategic vision and has been instrumental to Nucor's success. 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.”
In addition to Laxton's promotion, Chief Operating Officer David Sumoski will retire on 13 June 2026, after more than 30 years of service. He will transition from his current responsibilities on 1 January 2026. Until his retirement, Sumoski will continue as an Executive Vice President and advisor to Topalian and will work closely with Laxton to ensure a smooth transition.
Sumoski joined Nucor in 1995 as an electrical supervisor at Nucor Steel Berkeley, later serving as Maintenance Manager. He served as Vice President and General Manager of Nucor Steel Marion, Inc. and Nucor Steel Memphis, Inc. before being named Executive Vice President in 2014. He has served as COO since 2021.
“Dave has had an indelible impact on Nucor, and we are deeply appreciative of his leadership over the past 30 years. He has played a pivotal role in driving our safety culture and operational excellence across the enterprise,” Topalian added.
