Business

Nucor board approves stock buyback this week

Charlotte steelmaker Nucor said this week its board of directors has approved a stock buyback of up to $900 million that can be made “from time to time” at prevailing market prices.

The company also said this week its board elected former Boeing executive Laurette Koellner as a director, effective immediately. Koellner most recently served as executive chairman of International Lease Finance Corp., an AIG subsidiary, from 2012 until 2014.

Nucor said in July that its second-quarter earnings fell from last year because of the fall in steel prices, which is caused by the flood of foreign steel into U.S. markets.

Nucor employs about 100 people at its SouthPark headquarters.

Katherine Peralta: 704-358-5079, @katieperalta

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