Terex Cranes president Kevin Bradley is to become senior vice president of chief financial officer of Terex, replacing Phil Widman, who is planning to to retire on March 31. Bradley will be replaced as president of the cranes segment by Tim Ford, currently president of the company’s aerial work platforms segment. Ford, who will be taking on the cranes job immediately, will also continue to be responsible for the new Terex Services North America.
Terex subsidiary Demag Cranes has nominated Steve Filipov to its management board in the position of chief operating officer. Filipov will also become president of the Terex Material Handling & Port Solutions business segment of Terex Corporation, majority owner of Demag Cranes.
Aloysius Rauen will resign as CEO of Demag Cranes in the course of this year, once the integration of Demag Cranes into Terex is largely implemented and a smooth transition is ensured. At this time, Filipov, who joined Terex in 1995, will assume the title of CEO, Demag Cranes.
"The work and commitment of Aloysius Rauen has been outstanding, and a decisive success factor in the smooth integration of Demag Cranes into Terex," said Ron De Feo, chairman and CEO of Terex Corporation. "I thank Ays for his dedication to the company and its employees."
Feo added: "Steve Filipov has proven his leadership skills in his many years with Terex, and I am confident that he will effectively execute the plans that are already underway in our Material Handling & Port Solutions segment and continue to grow these businesses around the world."
