Emeco appoints replacement CEO

Mr Gordon, who takes up his new post in 1 December, joins Emeco from Wesfarmers, an A$50 billion (€31 billion) farming, retail and industrials group in Australia. Mr Gordon spent 10 years with Wesfarmers, most recently as director of its industrial divisions where he was responsible for the group's chemicals and fertilizer, industrial and safety and energy businesses.

Emeco's chairman, Alec Brennan, who thanked Mr Freedman for his "outstanding contribution to Emeco over the past decade", said Mr Gordon had an extremely impressive career in the industrials sector with significant senior leadership experience; "After a comprehensive search, the Board is delighted to appoint Keith to the position of CEO. We feel his leadership, corporate and industry experience are ideally suited to take Emeco into its next phase of development.

"Emeco has emerged from the recent global financial crisis in sound financial shape and with a strong market position. With the addition of Keith's strategic capabilities and experienced leadership, the Company is very well‐positioned to benefit from the anticipated recovery in Emeco's end markets."

Mr Gordon said he was delighted with his new post; "I am excited about the prospect of leading Emeco. While the macroeconomic environment remains somewhat challenging, Emeco is an outstanding business with the people, product and financial strength to create value into the future".

In September, Emeco said it would significantly downsize its European operation over the next year and undertake a strategic review of its US business as part of a restructuring that will also see it sell off many of its smaller ‘civil construction' machines in Europe and the US. The US strategic review is ongoing.