Nucor, a leading North American steel producer, has announced that Daniel R DiMicco is to retire from the board of directors of the company at the end of the year.

Mr DiMicco, who has worked for Nucor since 1982 and is the company’s longest-serving CEO since founder Ken Iverson, has held many senior positions with Nucor and has accepted the title of chairman emeritus from the board of directors.

DiMicco’s successor is John Ferriola, who currently serves as CEO and will take over as chairman of the board on January 1st 2014 – the day after DiMicco leaves the company.

Ferriola, an electrical engineer by trade, joined Nucor in 1992 and has been CEO and president since January 2013.