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Terex Announces CFO Transition

Terex Corporation, Westport, Conn., has announced that Phil Widman will be retiring as senior vice president and CFO. He will continue as CFO into the first half of 2013 to oversee the year-end accounting close and annual audit process, the filing of the company’s annual report on Form 10-K for the year ended Dec. 31, 2012, and facilitate an orderly transition of his responsibilities. The company has initiated a search to identify a CFO and expects to conclude the search process expeditiously.


“During his 10years as chief financial officer of Terex, Phil has been a key contributor to the company’s growth and success,” said Ron DeFeo, Terex chairman and CEO. “Phil’s personal commitment to the highest standards of financial integrity has helped define Terex’s finance organization and our company as a whole. We thank Phil for his many contributions to Terex over the past ten years, look forward to Phil’s ongoing efforts throughout this transition and wish him the best of luck in his retirement.”


Mr. Widman remarked: “I’ve had a rewarding 10 years at Terex, and it wouldn’t have been so without the support and talent of all of the people with whom I have worked. I look forward to an active retirement and continuing to stay involved in the business community as an external director at other companies.”


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