Charlotte, North Carolina, December 5, 2025
Nucor Corporation has promoted Stephen D. Laxton to President and COO, set to begin on January 1, 2026, coinciding with David A. Sumoski’s retirement. Laxton’s ascent represents a pivotal change for the company, fostering hope for innovation and economic growth in Charlotte’s business community. As Nucor prepares for this transition, local entrepreneurs look forward to the potential for renewed investment and opportunities in the region’s economy.
Nucor Promotes Laxton to President and COO; Sumoski to Retire
New Leadership Stirs Optimism in Charlotte’s Business Landscape
Charlotte, North Carolina – Nucor Corporation has made headlines with the announcement of Stephen D. Laxton’s promotion to President and Chief Operating Officer (COO), effective January 1, 2026. This significant leadership change signals a new chapter for the company, following the planned retirement of current COO David A. Sumoski, who will step down on June 13, 2026. With Laxton’s steady rise through the ranks, local entrepreneurs and business leaders are looking to this transition as an opportunity for renewed innovation and growth.
The Charlotte business community has long thrived on entrepreneurial resilience and the ability to adapt to change. Nucor’s leadership transition is a testament to the strength of homegrown talent in the region. As leaders like Laxton take on new responsibilities, they can leverage their extensive industry experience to drive further economic development and advance Charlotte’s reputation as a hub for business activity.
Leadership Transition at Nucor
Stephen D. Laxton has proven to be a versatile leader within Nucor since he joined the company in 2003 as General Manager of Business Development. His trajectory through various roles, including his most recent position as Chief Financial Officer (CFO) and Executive Vice President since 2022, underscores his commitment to the company’s mission and vision. In his upcoming role as President and COO, Laxton will maintain oversight of financial operations until a successor is appointed, ensuring a seamless transition during this pivotal time.
David A. Sumoski’s career, spanning over three decades, highlights the significant contributions of dedicated individuals in Nucor’s success. Starting his journey in 1995 as an electrical supervisor at Nucor Steel Berkeley, Sumoski ascended through various leadership roles, such as Vice President and General Manager of Nucor Steel Marion and Nucor Steel Memphis. His focus on operational excellence and a strong safety culture will leave a lasting legacy as he prepares to retire.
Nucor Corporation: A Standout in Steel Manufacturing
Nucor Corporation has established itself as North America’s largest steel manufacturer and recycler, with operations across the United States, Canada, and Mexico. Known for a broad spectrum of steel products—from carbon and alloy steel bars and beams to structural tubing and fabricated concrete steel—Nucor also excels in sustainable practices through its commitment to recycling materials. This focus on innovation not only supports North Carolina’s economy but also aligns with national sustainability goals.
Current Market Performance
As of December 5, 2025, Nucor’s stock (NYSE: NUE) is trading at $162.54 per share, reflecting a decrease of $2.16 (-1.31%) from the previous close. While the stock performance illustrates typical market fluctuations, the strategic leadership changes are likely to influence future investor confidence positively.
Community Impact and Future Prospects
Nucor’s expansion and operations influence Charlotte’s economic landscape. The company’s success has ripple effects, creating opportunities for local suppliers and service providers, thereby enhancing job creation in the community. As Laxton steps into his new role, his vision for the company could spark further entrepreneurial innovation and investment within Mecklenburg County.
Support Local Businesses
As Nucor embarks on this new phase, it’s essential for community members to support local businesses and initiatives that contribute to economic growth. Engaging with local entrepreneurs and advocating for policies that foster a favorable business environment can further strengthen Charlotte’s economic foundation.
Conclusion
While Nucor’s leadership transition positions the company for future growth, it also serves as a motivational force for the broader Charlotte business community. The collaborative spirit, entrepreneurial innovation, and commitment to excellence in leadership can create a promising outlook for North Carolina’s economy.
FAQ
What leadership change is happening at Nucor Corporation?
Stephen D. Laxton has been promoted to President and Chief Operating Officer (COO), effective January 1, 2026, following the planned retirement of current COO David A. Sumoski.
What is Stephen Laxton’s experience at Nucor?
Laxton joined Nucor in 2003 as General Manager of Business Development and has served as CFO and Executive Vice President since 2022.
What significant achievements did David A. Sumoski accomplish during his career at Nucor?
Sumoski advanced through various leadership roles, contributing to Nucor’s safety culture and operational excellence during his tenure, which began in 1995.
What products does Nucor Corporation manufacture?
Nucor produces a wide range of steel products, including carbon and alloy steel in bars, beams, sheet, and plate; electrical conduit; metal building systems; and more.
How is Nucor’s stock performing?
As of December 5, 2025, Nucor’s stock (NYSE: NUE) is trading at $162.54 per share, reflecting a decrease of $2.16 (-1.31%) from the previous close.
Key Features of Nucor’s Leadership Transition
| Feature | Details |
|---|---|
| New President and COO | Stephen D. Laxton, effective January 1, 2026 |
| Outgoing COO | David A. Sumoski, retirement effective June 13, 2026 |
| Laxton’s Prior Roles | Joined in 2003, served as CFO since 2022 |
| Nucor’s Industry Standing | Largest steel manufacturer and recycler in North America |
| Market Performance | Stock trading at $162.54 as of December 5, 2025 |
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