Nucor Promotes Steve Laxton To Succeed Retiring Jim Frias As CFO - Quick Facts

(RTTNews) - Nucor Corp. (NUE) announced Wednesday that Jim Frias, Chief Financial Officer, Treasurer and Executive Vice President, plans to retire effective June 11, 2022, and will transition out of the role as of March 6, 2022.

Steve Laxton, Vice President of Business Development and Strategic Planning, has been named his successor. Frias and Laxton will work together over the next several months to conduct a seamless transition of CFO responsibilities.

Laxton, 51, began his career with Nucor in 2003 as General Manager of Business Development and was promoted to Vice President in 2014. Prior to joining Nucor, Laxton worked for Cinergy Corp., holding various positions including Director of Asset Management and Manager of Corporate Development. Prior to Cinergy, he held various financial roles with Ashland, Inc., North American Stainless and National City Bank.

Meanwhile, Frias, 65, joined Nucor in 1991 as Controller of Nucor Building Systems - Indiana. Over the years, he took on roles with increasing levels of responsibility, serving as Controller of Nucor Steel - Indiana and later as Corporate Controller. He was promoted to Vice President in 2006 and has served as Chief Financial Officer, Treasurer and Executive Vice President since January 2010.