Terex Corp. announced a shakeup in several divisions of the Westport heavy construction-equipment maker and materials processor.
Kevin Bradley, current president of Terex Cranes, becomes senior vice president and chief financial officer, immediately upon the filing of the parent’s form 10-K annual report for 2012 with the Securities and Exchange commission. Bradley will succeed Phil Widman, who is retiring from the CFO slot on March 31
Before being named Terex Cranes’ president in January 2011, the former GE Capital and AT&T Capital executive had been president of Terex Financial Services since joining Terex in 2005. Terex previously announced that, 2013.
Immediately replacing Bradley is Tim Ford, currently president of Terex Aerial Work Platforms. Ford will continue to oversee Terex’s utilities business and the newly established Terex Services North America business, among other duties. Ford joined Terex in 2006 after stints at Toro, Honeywell and General Electric.
Steve Filipov, currently president of developing markets and Strategic Accounts, is now president of Terex Material Handling & Port Solutions. Filipov also takes over as interim chief operating officer of recently acquired Demag Cranes AG, awaiting his impending move to the CEO chair. Filipov joined Terex in 1995.
George Ellis, currently President, Terex Construction, will continue in this role and also assume responsibility for the Company’s operations in India. Mr. Ellis joined Terex through the Genie acquisition in 2002 and has held several senior management positions at various Terex operations. Previously he held leadership positions at General Electric, Pratt & Whitney and PPG Industries.
Matt Fearon, currently vice president and general manager of AWP Americas, takes over the unit as president.
Finally, Aloysius Rauen, current CEO of Demag Cranes, will leave later this year, once the Demag integration is complete, Terex said.
Upon Mr. Rauen’s resignation, Filipov will over as Demag CEO.
