Nucor Corporation (NUE) announced that CFO and Executive Vice President Stephen Laxton has been promoted to President and Chief Operating Officer, effective January 1, 2026.
Laxton succeeds longtime COO David Sumoski, who will retire on June 13, 2026, after more than 30 years with the company.
Laxton, who joined Nucor in 2003 and became CFO in 2022, will continue serving in that role until a successor is named. CEO Leon Topalian praised Laxton's leadership and strategic contributions, noting that the transition reflects Nucor's long-standing succession planning.
Sumoski will shift to an advisory role beginning January 1, working with Laxton and Topalian to support a smooth transition until his retirement. Over his three-decade career, he held multiple operational leadership roles before becoming COO in 2021.
Topalian highlighted Sumoski's influence on Nucor's safety culture, operational discipline, and overall performance, thanking him for his service and wishing him well in retirement.
NUE currently trades at $161.28 or 2.08% lower on the NYSE.
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