During the 1960s F. Kenneth Iverson was able to transform what was then a close-to-bankrupt company, Nucor Steel, into one of the most successful and largest, US steelmaker. Iverson’s training was in metallurgy, but he excelled as a businessman, showing extraordinary leadership skills. His philosophy of management has been studied and copied in business environments throughout the world.
Iverson was also an innovative leader, developing the mini-steel mill, which revolutionized the steel-making industry. Utilizing this advance and together with his great skills as a leader, Nucor went from almost bankrupt in the 1960s to the most profitable carbon-steel maker in the world by the 1980s. In 1984 Nucor produced 1.5 million tons of steel.