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Nucor says COO Ferriola to take over as CEO Jan. 1

CHARLOTTE, N.C. (AP) -- Steel producer Nucor Corp. said Friday that President and Chief Operating Officer John Ferriola will be promoted to CEO on Jan. 1.

Daniel DiMicco will remain executive chairman of the company.

Ferriola has worked at Nucor since 1992. He became the head of its steelmaking operations in 2007 and was made president and COO in January 2011.

DiMicco, 62, has led the company since September 2000.

Nucor shares slipped 46 cents to $38.90 in morning trading as the broader markets narrowly declined.