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Fearon Named Terex AWP President amid Several Management Changes

Terex Corp. today announced several changes in the company’s management, including Matt Fearon taking over as president of Terex AWP as current president Tim Ford moves to become president of Terex Cranes. Fearon, a 25-year industry veteran, has worked within the Terex/Genie operation for 18 years. Prior to the move, Fearon was vice president and general manager of AWP Americas, and previously was managing director of AWP Europe.

Ford has served as president of Terex Aerial Work Platforms since he joined the company in 2006 following executive assignments at Toro, Honeywell and General Electric. Ford takes over the crane division immediately, and will continue to be responsible for the Terex Utilities business and the recently established Terex Services North America business. Ford will also have direct responsibility for the company’s Latin America operations as well as corporate strategic accounts and government programs.

In other developments, 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. Bradley was named president of Terex Cranes in January 2011, and had served as president of Terex Financial Services since joining Terex in 2005. Bradley had financial roles at GE Capital and AT&T Capital before joining Terex.

Steve Filipov, president developing markets and strategic accounts will immediately take over as president, Terex Material Handling & Port Solutions. Filipov will also assume the role of chief operating officer of Demag Cranes AG as Terex continues the transition of Demag into Terex. Filipov will also retain responsibility for the Russian market as well as corporate marketing. Filipov joined Terex in 1995 and has held positions of increasing responsibility, including president of Terex Cranes from 2004-2008.

Aloysius Rauen will continue in his current role as CEO of Demag Cranes AG, but plans to resign this year once the integration of the Demag Cranes business into the Terex group is further along. Once Rauen retires, Filipov will become Demag Cranes CEO.

George Ellis, currently president of Terex Construction, will continue in this role as he also assumes responsibility for Terex’s operations in India. Ellis joined Terex through the Genie acquisition in 2002, and has held several management positions.

“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 CEO. “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.”

Terex is based in Westport, Conn.

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