Terex Corporation has announced senior executive changes.
Tim Ford, currently president of Terex Cranes, is leaving the company to pursue other opportunities.
With Ford’s departure, Ken Lousberg, currently president of Terex China, will take on the role of president of Terex Cranes as well as responsibility for Latin America, which was previously under Mr. Ford.
While Mr. Lousberg will retain responsibility for China, Terex will name a country leader for its Chinese business as soon as possible to help coordinate the company's business in that country. That position will report to Lousberg.
Lousberg joined Terex through the Genie acquisition in 2002 and has held several senior management positions at various Terex operations.
George Ellis will take on a new role as senior vice president of operations planning and president of Terex Construction. In addition to retaining his current responsibilities for Terex Construction, government programs and India, Ellis will assume global responsibility for the Terex Business System, sourcing, transportation, logistics, and manufacturing footprint.
Ellis also joined Terex through the Genie acquisition in 2002 and has held several senior management positions at various Terex operations.
Scott Hensel, now vice president of Terex Services North America has been named to the newly created position of vice president and managing director of Terex Utilities and Services reporting to Lousberg. In this new role, in addition to his current responsibility for managing and growing the North American services business, Hensel will also manage the Terex Utilities business. Hensel was previously a partner at McKinsey & Company and joined Terex in 2014 to improve and grow the Terex Services North America business.
Kieran Hegarty, president of Terex Materials Processing will manage the Terex Fuchs business, which will become part of the Terex Materials Processing segment.
Ron De Feo, Terex Chairman and Chief Executive Officer, said, “While we expect to achieve substantial synergies with the announced merger with Konecranes, as we think ahead and help position the company for the merger we must continue to organize the company and operate Terex in a way that is best for the business.”
“We thank Tim Ford for his dedicated service and leadership within both the AWP segment and his current position with Terex Cranes, and wish him the best in his future endeavors,” said De Feo.
Commenting on Lousberg's new assignment, De Feo said, “Ken Lousberg is the right person to lead our efforts to continue to improve our global cranes business. Ken has previously served in multiple leadership roles within our Cranes business and will be in an excellent position to start immediately with the important work of growing our Cranes business. Ken has demonstrated strong leadership skills during his tenure with Terex and I believe his increasing responsibilities will serve us and our customers well.”
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