Ken Iverson
In an industry where a large portion of the work force was unionized,
Iverson built Nucor with an entirely non-union workforce, rewarding
his workers through generous production bonuses. In an industry
in which nearly all steel was made in huge, capital-intensive
blast-furnace factories, Iverson decided to have Nucor manufacture
steel entirely from relatively small factories using recycled
steel scrap. Thus, Nucor sparked the boom in "mini-mills,"
which now produce more than half of all steel made in the United
States. Nucor, meanwhile, has grown to the largest steelmaker
(measured by tons) in the United States and the largest individual
recycler of any material.
"All of us at Nucor are a product of his vision,"
said Daniel R. DiMicco, Nucor's Vice Chairman, President, and Chief Executive
Officer.
"The best thing we can do is to continue following
that vision."
Ken Iverson's legacy to the steel industry will endure for generations
to come.
To read Ken's biography, click here to go to the American National Business Hall of Fame website. Ken is one of the ANBHF Laureates. |
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