August Spencer
(Logo Courtesy of Nucor)
The Nucor Corporation (NYSE: NUE) family is mourning the loss of former CEO and Chairman Dave Aycock, who died on Saturday, June 7, at the age of 94.
Aycock, along with Ken Iverson and Sam Siegel, led Nucor's transformation into one of the world's leading steelmakers.
"Dave Aycock was part of the foundation of leaders that built Nucor into one of the most successful steel companies in the world. Dave was the perfect embodiment of our Nucor culture, as his career showed that there are no limits on what a teammate can accomplish at Nucor," said Leon Topalian, chair, chief executive officer and president of Nucor.
Aycock rose within the company from his start as a welder in 1954 to president and chief operating officer in 1984.
He retired in 1991 and continued to serve on Nucor's board of directors.
Aycock returned to the executive management team in 1998 to serve as chairman, and, in 1999 and 2000, during an important transition period for the company, he assumed the responsibilities of president and CEO.
During that time, he implemented several key initiatives, including a process for selecting the next CEO. He retired from the board in 2001.
As a team, Iverson, Siegel, and Aycock revolutionized American steelmaking by building the company on a recycling-based production process, as opposed to utilizing blast furnaces which was the dominant production process at the time.
In 1969, Nucor began operating its first steel minimill in Darlington, South Carolina.
Officials said the recycling-based process started in Darlington now accounts for more than 70 percent of the steel production in the United States, making America one of the cleanest places in the world to make steel.
"Our hearts go out to Dave's wife, Daphne, and their entire family. Dave was a blessing to our company and his positive impact on the growth of Nucor is a tremendous legacy," said Topalian.
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