Nucor CEO's pay package falls 43 percent

Posted In: Materials

By The Associated Press

Friday, March 12, 2010

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An Associated Press calculation finds that steel maker Nucor Corp. paid its CEO fell 43 percent last year as it eliminated cash bonuses for executives to help it weather the recession.

Chairman, President and CEO Daniel R. DiMicco received 2009 compensation worth $2.88 million. In 2008, he received $5.04 million.

Nucor said it eliminated the bonuses after posting a net loss. The steel industry was battered as prices fell and its customers struggled.

The AP's executive pay calculation is based on a regulatory filing and aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

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