01.12.2010

Defeo restores his pay cut

Terex has said that it will restore the 10 percent cut in chief executive Ron DeFeo’s salary from January. The cuts were implemented in March 2009.

The company has also said that it will increase director’s salaries by $25,000 following the recommendations of its compensation committee.

The 10 percent pay cut was restored for other members of the Terex senior management team last January, but DeFeo said that he would not accept the restoration in his pay until Terex was firmly on the path to financial recovery, as determined by the company’s compensation committee.
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