05.01.2011

Senior management changes at Terex

Terex president Tom Riordan and Terex Crane’s president Rick Nichols are leaving the company.

Riordon leaves as of January 31st to become chief executive of Neenah Enterprises, of Neenah, Wisconsin, one of the largest independent foundry companies in the United States. Terex does not plan to replace him, chief executive Ron Defeo will take over his duties, which he handled prior to Riordan's appointment in 2006.
Please register to see all images

Tom Riordan

Kevin Bradley, previously as president of Terex Financial Services takes over from Nichols, effective immediately. Nichols will depart in February to “pursue other opportunities”.
Please register to see all images

Rick Nichols

Bradley joined Terex in 2005 prior to which he spent nine years each at General Electric Capital Corporation and AT&T Capital Corporation, holding positions of increasing responsibility.
Please register to see all images

Kevin Bradley

Ramon Oliu takes over from Bradley as president of Terex Financial Services, he is currently responsible for operations, risk management, and IT at the captive finance company. In his new role, he will report to Phillip Widman, Terex chief financial officer.

Defeo said: “We thank Tom Riordan and Rick Nichols for their dedicated service and accomplishments at Terex, and wish them the best in their future endeavours.”

“Kevin Bradley is the right person to lead our efforts to improve relationships with large global crane customers and continue the globalisation of our crane business, and we are excited about the future prospects for this segment. In his TFS leadership role, Kevin has demonstrated his commercial skills and developed a keen understanding of our customer base.”

“Ramon Oliu has the knowledge of the Terex business and the financial services experience to take over where Kevin left off and continue to build and expand TFS capabilities worldwide. We expect TFS to be a significant enabler of the growth of the Terex franchise as our end markets continue to recover.”

Terex also announced that it is creating a new position of senior vice president, Terex Business System (TBS), reporting to DeFeo. The company is in the final stages of selecting someone from a number of internal candidates. They will be responsible for developing and implementing the Terex Business System and accelerating the enterprise-wide transformation of Terex into a world-class, customer-focused operating company.