Terex Corporation Announces Senior Leadership Changes
August 19 2015 - 12:34PM
Business Wire
Terex Corporation (NYSE:TEX) today announced the following
senior executive changes:
- Tim Ford, currently President, Terex
Cranes, is leaving the Company to pursue other opportunities.
- With Mr. Ford’s departure, Ken
Lousberg, currently President of Terex China, will take on the role
of President of Terex Cranes as well as the responsibility for
Latin America previously with Mr. Ford. While Mr. Lousberg will
retain responsibility for China, a Country Leader for our Chinese
business will be named as soon as possible to help coordinate our
business in China reporting to Mr. Lousberg. Mr. Lousberg joined
Terex through the Genie acquisition in 2002 and has held several
senior management positions at various Terex operations.
- George Ellis will take on a new role as
Senior Vice President, Operations Planning and President, Terex
Construction. In addition to retaining his current responsibilities
for Terex Construction, Government Programs and India, Mr. Ellis
will assume global responsibility for the Terex Business System,
sourcing, transportation, logistics, and manufacturing footprint.
Mr. Ellis also joined Terex through the Genie acquisition in 2002
and has held several senior management positions at various Terex
operations.
- Scott Hensel, now Vice President, Terex
Services North America has been named to the newly created position
of Vice President and Managing Director, Terex Utilities and
Services reporting to Ken Lousberg. In this new role, in addition
to his current responsibility for managing and growing the North
American services business, Mr. Hensel will also have management
responsibility for the Terex Utilities business. Mr. Hensel was
previously a partner at McKinsey & Company and joined Terex in
2014 to improve and grow the Terex Services North America
business.
- Kieran Hegarty, President, Terex
Materials Processing will assume management responsibility for the
Terex Fuchs business which will become part of the Terex Materials
Processing segment.
Ron De Feo, Terex Chairman and Chief Executive Officer,
commented, “While we expect to achieve substantial synergies with
the announced merger with Konecranes, as we think ahead and help
position the company for the merger we must continue to organize
the company and operate Terex in a way that is best for the
business.”
“We thank Tim Ford for his dedicated service and leadership
within both the AWP segment and his current position with Terex
Cranes, and wish him the best in his future endeavors,” remarked
Mr. De Feo. Commenting on the new assignment for Mr. Lousberg, Mr.
De Feo continued, “Ken Lousberg is the right person to lead our
efforts to continue to improve our global cranes business. Ken has
previously served in multiple leadership roles within our Cranes
business and will be in an excellent position to start immediately
with the important work of growing our Cranes business. Ken has
demonstrated strong leadership skills during his tenure with Terex
and I believe his increasing responsibilities will serve us and our
customers well.”
Forward Looking Statements
This press release contains forward-looking information based on
the current expectations of Terex Corporation. Because
forward-looking statements involve risks and uncertainties, actual
results could differ materially. Such risks and uncertainties, many
of which are beyond the control of Terex, include those factors
that are more specifically set forth in the public filings of Terex
with the Securities and Exchange Commission. Actual events or the
actual future results of Terex may differ materially from any
forward looking statement due to those and other risks,
uncertainties and significant factors. The forward-looking
statements speak only as of the date of this press release. Terex
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
included in this press release to reflect any changes in
expectations with regard thereto or any changes in events,
conditions, or circumstances on which any such statement is
based.
About Terex
Terex Corporation is a lifting and material handling solutions
company reporting in five business segments: Aerial Work Platforms,
Construction, Cranes, Material Handling & Port Solutions and
Materials Processing. Terex manufactures a broad range of equipment
for use in various industries, including the construction,
infrastructure, manufacturing, shipping, transportation, refining,
energy, utility, quarrying and mining industries. Terex offers
financial products and services to assist in the acquisition of
Terex equipment through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
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version on businesswire.com: http://www.businesswire.com/news/home/20150819005969/en/
Terex CorporationTom Gelston, 203-222-5943Vice President,
Investor Relationsthomas.gelston@terex.com
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