High level changes at Terex

Terex Corporation has announced a major round of top level personnel changes. It comes in the wake of the recent announcement of the intended merger between Konecranes and Terex Corp.

Tim Ford, Terex Cranes president, is leaving the company and will be replaced by Ken Lousberg who is Terex China president. Lousberg will also take over responsibility for Latin America, for which Ford was also responsible. A country leader for China, reporting to Lousberg, will be appointed.

George Ellis gets the new role of senior vice president, operations planning and president, Terex Construction. He adds global responsibility for the Terex Business System, sourcing, transportation, logistics, and manufacturing footprint to his current responsibilities for Terex Construction, Government Programs and India.

Another new role will be taken by Scott Hensel, now vice president, Terex Services North America. He will be vice president and managing director, Terex Utilities and Services, reporting to Ken Lousberg. Kieran Hegarty, president, Terex Materials Processing, adds management responsibility for Terex Fuchs which joins the Terex Materials Processing segment.

Commenting on the changes in the Cranes segment, Ron De Feo, Terex Corporation chairman and chief executive officer, said, “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 endeavours.”

Commenting on Ken Lousberg's appointment, 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.”

On the broader implications for the corporation, DeFeo continued, “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 organise the company and operate Terex in a way that is best for the business.”