Former Terex CEO DeFeo Takes the Reins at Kennametal
Former longtime Terex chairman and CEO Ron DeFeo has been named president and CEO of Kennametal Inc., effective immediately. DeFeo is replacing Donald Nolan, who left the company to pursue other interests after working as president and CEO since Nov. 2014. DeFeo has been a Kennametal board member since 2001.
“We have determined a change in leadership is necessary and are pleased that Ron will step into this role,” said Kennametal chairman Lawrence Stranghoener. “Ron is a highly experienced CEO who will bring much wisdom, experience and passion for Kennametal. He will sharpen our focus, prioritize our results, and motivate, engage, and empower our people to produce the financial results that are expected of an industry leader like Kennametal”
DeFeo joined Terex in 1992, has been CEO since March 1995 and chairman since March 1998. The company grew dramatically through his tenure with the acquisition of Genie Industries and several other construction manufacturers.
“As a 14-year member of the Kennametal board, I know what the company and its people are capable of achieving,” DeFeo said. “I’m excited about the potential embedded in Kennametal and with over 20 years of CEO experience, I am excited to get to work on behalf of Kennametal’s employees, customers and shareholders.”
DeFeo began his career in 1974 at Procter & Gamble, was senior vice president of J.I. Case Co., and managing director of Case Construction Equipment throughout Europe.
Kennametal is a global industrial technology leader in materials science, tooling and wear-resistant solutions for customers in aerospace, earthworks, energy, general engineering and transportation. The company is based in Latrobe, Pa.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.