Nucor Stock Slips Amid Leadership Shake-Up – Retail Turns Bearish

The company’s Executive Vice President of Business Services and General Counsel, Gregory J. Murphy, will step down on June 7, passing the role to Benjamin M. Pickett, who was elected Vice President in 2023.

Nucor Corp. (NUE) shares were down over 2% on Wednesday afternoon after the American steelmaker announced executive retirements and promotions.

Gregory J. Murphy, the company’s Executive Vice President (EVP) of Business Services and General Counsel, will retire on Jun. 7 after a 36-year tenure at the steelmaker.

He will be replaced by Benjamin M. Pickett, who joined Nucor in 2018 as Director of Corporate Legal Affairs, effective March 9. 

In 2020, Pickett was promoted to General Manager and Counsel of Public Affairs and Government Relations before being elected to Vice President in 2023.

Nucor also announced that Douglas R. Wilner will assume the role of President of Corporate Legal Affairs and General Counsel starting March 9. 

Wlner joined Nucor in 2016 as General Manager of Corporate Legal Affairs and was elected to Vice President in 2023

"Ben and Doug are accomplished leaders and uniquely suited for these positions. I look forward to continuing to work with them in these expanded roles," said Nucor Chair, President, and CEO Leon Topalian.

On Stocktwits, retail sentiment deteriorated to ‘bearish’ from ‘bullish’ a day ago, with retail chatter falling to ‘low’ levels.

The executive shake-up follows Nucor’s latest hot-rolled coil (HRC) spot price increase on Tuesday, marking the company’s fourth consecutive hike since the beginning of the year.

Despite a strong start in 2025 with an 18% gain year-to-date, Nucor shares remain down more than 23% over the past 12 months.

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