Terex Corporation Announces Leadership Change in Its Cranes Segment
October 25 2016 - 4:58PM
Business Wire
Terex Corporation (NYSE:TEX) today announced that Steve Filipov
will assume the role of President of Terex Cranes effective
immediately. Mr. Filipov will also continue with his
responsibilities as President of the Terex Material Handling and
Port Solutions segment until completion of the announced sale of
that segment to Konecranes Plc. Ken Lousberg, currently President,
Terex Cranes, will be leaving the Company to pursue other
opportunities.
“We thank Ken for his dedicated service and leadership over many
years within the AWP segment, Terex China and his current position
with Terex Cranes, and wish him the best in his future endeavors,”
remarked John L. Garrison, Jr., President and Chief Executive
Officer. Commenting on the new assignment for Mr. Filipov, Mr.
Garrison added, “Steve is the right person to lead the turnaround
efforts to improve our global cranes business. Steve started his
career at Terex in the Company’s crane business and served as
President of Terex Cranes from 2004 to 2008. Steve’s intimate
knowledge of the Terex Cranes business, its products and, most
importantly, its customers will put him in an excellent position to
start immediately with the work of improving and growing our Cranes
business. Steve has demonstrated strong leadership skills during
his tenure with Terex and I am confident that in his new
responsibility as President of Terex Cranes he will serve us and
our customers well.”
Mr. Garrison continued, “In addition, Kevin O’Reilly, currently
Vice President, Operational Finance, will assume the position of
Group Vice President, Finance for the Cranes Segment assisting
Steve with the Cranes turnaround. Mr. O’Reilly has held a number of
senior finance roles at Terex over many years including corporate
controller, segment finance leader, business development and
strategy, and investor relations. Kevin’s strong operational
finance experience and achievements make him the ideal choice to
provide the financial leadership and support that Steve and the
entire Cranes team need as they position Cranes for success.”
About Terex
Terex Corporation is a global manufacturer of lifting and
material processing products and services that deliver lifecycle
solutions to maximize customer return on investment. The Company
reports in three business segments: Aerial Work Platforms, Cranes
and Materials Processing. Terex delivers lifecycle solutions to a
broad range of 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
investors and the market.
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version on businesswire.com: http://www.businesswire.com/news/home/20161025006789/en/
Terex CorporationBrian Henry, 203-222-5954Senior Vice President,
Business Development and Investor
Relationsbrian.henry@terex.com
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