Terex makes senior management changes

Terex Corp has made a number of senior management changes, including the appointment of Matt Fearon as president of Terex Aerial Work Platforms, replacing Tim Ford who becomes president of Terex Cranes.

Other changes see current Terex Cranes president Kevin Bradley become Terex's chief financial officer and Steve Filipov assuming the presidency of Terex Material Handling & Port Solutions.

Mr Fearon was previously vice president and general manager of Terex AWP Americas and he has also been managing director of AWP Europe. He has 25 years of industry experience and has worked with Terex/Genie for 18 years.

Tim Ford becomes president of Terex Cranes and he will continue to manage both the Terex Utilities business and the recently established Terex Services North America operation. In addition he will have direct responsibility for Terex's Latin American operations as well as corporate strategic accounts and government programs. Mr Ford joined Terex as president of the AWP division in 2006 following executive assignments at Toro, Honeywell and General Electric.

Kevin Bradley, currently president of Terex Cranes, will transition to the role of senior vice president and chief financial officer effective immediately after the filing of the company's annual report for 2012.

Mr Bradley was named president of Terex Cranes in January 2011. Prior to that, he had served as president of Terex Financial Services since joining Terex in 2005. Before Terex, he had financial roles of increasing responsibility at GE Capital and AT&T Capital. Terex previously announced that Phil Widman would be retiring as senior vice president and chief financial officer effective March 31, 2013.

Steve Filipov, currently president of developing markets and strategic accounts, will become president of Terex Material Handling & Port Solutions effective immediately.

Mr Filipov will also assume the position of chief operating officer of Demag Cranes AG when the current CEO, Aloysius Rauen, leaves the company. Mr Rauen said he will resign his position later this year when the integration of Demag Cranes has progressed further.

Mr Filipov will retain overall Terex responsibility for the Russian market as well as corporate marketing. He joined Terex in 1995 and has held positions of increasing responsibility, including president of Terex Cranes from 2004-2008.

George Ellis, currently president of Terex Construction, will continue in the same role and also assume responsibility for the company’s operations in India.

“These changes are intended to strengthen the company’s leadership team and provide our executives with new learning and growth opportunities", said Ron DeFeo, Terex chairman and chief executive officer, " They reflect both a maturing and broadening of scope for the Terex leadership team.

“I am confident that under Kevin’s leadership, Terex will continue to maintain the highest standards of financial integrity that has helped define Terex’s finance organization and our Company as a whole. Tim, Steve, George and Matt have demonstrated strong leadership skills during their tenures with Terex and I believe their increasing responsibilities will serve us and our customers well.

"I thank Ays [Aloysius Rauen] for his dedication to Demag Cranes and its employees and his efforts in integrating Demag Cranes into the Terex group.”