CHARLOTTE, N.C., Jan. 7 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) announced that Harvard Business Review has recognized Dan DiMicco and Nucor's management team in its ranking of "The Best-Performing CEOs in the World" reported in the magazine's January-February 2010 edition ( http://hbr.org/2010/01/the-best-performing-ceos-in-the-world/ar/1 ). Research by Professors Morten Hansen (University of California, Berkeley), Herminia Ibarra (INSEAD) and Urs Peyer (INSEAD) developed "the first ranking that shows which CEOs of large public companies performed best over their entire time in office - or, for those still on the job, up until September 30, 2009." Shareholder returns achieved by the Nucor team over the tenure of CEO Dan DiMicco (September 2000 through September 2009) ranked in the study's "The Top 100 CEOs" - measured against a total of 1,999 CEOs from Standard & Poor's Global 1200 and BRIC 40 lists serving over the 1997 to 2009 time period. In their article, the professors observe "a lot of people have blamed short-term thinking for causing our current economic troubles, which has set off a debate about what time window we should use to assess a CEO's performance ... Today boards of directors, senior managers, and investors intensely want to know how CEOs handle the ups and downs of running businesses over an extended period ... The real test of a CEO's leadership has to be how the company does over his or her full tenure ... In fact, our list overlaps very little with lists of the most-admired or highest-paid CEOs."
Dan DiMicco, Nucor's Chairman, CEO and President, commented: "This ranking is an honor for every member of the Nucor team. The 21,000 men and women of Nucor are working safely, working hard and working together to reward our shareholders with attractive long-term returns on their valuable capital. The dedication and talents of my teammates are why I am very confident that Nucor's best years are still ahead of us."
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 joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; 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 nonferrous scrap. Nucor is North America's largest recycler.
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements are outlined in Nucor's regulatory filings with the Securities and Exchange Commission, including those in Nucor's December 31, 2008 Annual Report on Form 10-K. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.
SOURCE Nucor Corporation