Terex appoints new CFO among senior leadership changes

|  January 15, 2013 |

Terex has appointed several leadership positions, including a new senior vice president and Chief Financial Officer.

Kevin Bradley, currently president of Terex Cranes since 2011, has been appointed senior vice president and chief financial officer effective immediately after the filing of the Company’s Annual Report on Form 10-K for 2012. Bradley will succeed Phil Widman, who will retire as senior vice president and chief financial officer, effective March 31.

Tim Ford, currently president of Terex Aerial Work Platforms (AWP), will fill Bradley’s spot as the new president of Terex Cranes effective immediately. Ford will continue to be responsible for the Terex Utilities business and the Terex Services North America business. Additionally, Ford will have direct responsibility for the company’s Latin American operations as well as corporate strategic accounts and government programs.

Steve Filipov, currently president of developing markets and strategic accounts, is the new president of Terex Material Handling & Port Solutions effective immediately, and he will serve as chief operating officer of Demag Cranes AG. Filipov will retain overall Terex responsibility for the Russian market as well as corporate marketing.

George Ellis will assume responsibility for the company’s operations in India while continuing in his role as president of Terex Construction.

Matt Fearon, currently vice president and general manager of AWP Americas, is the new president of Terex AWP effective immediately.

Aloysius Rauen, CEO of Demag Cranes AG, will resign in 2013, once the integration of the Demag Cranes business into the Terex group is further along. Until then, Rauen will continue in his current role. Steve Filipov will succeed Rauen as CEO of Demag Cranes AG.

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