Terex Corp. restructuring its leadership

Terex Corp. announced several changes in its leadership structure on Wednesday following its merger with Konecranes.

Among these changes, Terex Cranes President Tim Ford said he is leaving the company to pursue other opportunities. He will be replaced by Ken Lousberg, who has served as president of Terex China.

"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, Terex Chairman and CEO Ron De Feo said. "We thank Tim Ford for his dedicated service and leadership ... and wish him the best in his future endeavors.”

The company also said that George Ellis will be taking on the role of senior vice president role, specializing in operations planning in addition to his current role as president of Terex Construction.

Terex Materials Processing President Kieran Hegarty will also take on duties of managing responsibility over Terex Fuchs, a business unit that will join the material processing unit.

Scott Hensel will now serve in a newly created role of vice president and managing director of Terex Utilities and Services. He currently serves as the vice president of Terex Services North America. In addition, Hensel will also oversee the corporation's utility business unit.

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