Terex Corp. has named Steve Filipov president of Terex Cranes effective immediately. Terex veteran Filipov will continue in his role as president of the Terex Material Handling and Port Solutions segment until the completion of the announced sale of that segment to Konecranes Plc. Ken Lousberg, current Terex Cranes president, will be leaving the company to pursue other opportunities, the company said.
“We thank Ken for his dedicated service and leadership over many years within the AWP segment, Terex China and his current position with Terex Cranes and wish him the best in his future endeavors,” said John Garrison, president and CEO of Terex. “Steve is the right person to lead the turnaround efforts to improve our global cranes business. Steve started his career at Terex in the company’s crane business and served as president of Terex Cranes from 2004 to 2008. Steve’s intimate knowledge of the Terex Cranes business, its products and, most importantly, its customers will put him in an excellent position to start immediately with the work of improving and growing out Cranes business. Steve has demonstrated strong leadership skills during his tenure with Terex and I am confident that in his new responsibility as president of Terex Cranes he will serve us and our customers well.”
Garrison added that Kevin O’Reilly, currently vice president, operational finance, will assume the position of group vice president, finance for the Cranes segment, assisting Filipov. O’Reilly has held a number of senior finance roles at Terex including corporate controller, segment finance leader, business development and strategy, and investor relations.
“Kevin’s strong operational finance experience and achievements make him the ideal choice to provide the financial leadership and support that Steve and the entire Cranes team need as they position Cranes for success,” Garrison said.
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.