14.05.2012

Lockwood moves to Demag

Larry Lockwood, currently vice president finance and information systems for Genie/Terex AWP, has been appointed as chief financial officer of Demag Cranes with effect from May 16th, the appointment is temporary and is planned to run until the end of December 2013.

Before joining Genie, Lockwood held a number of high-profile finance positions with Bureau Veritas, ArvinMeritor and Rockwell International. Lockwood replaces Axel Arendt, who had taken up the position on an interim basis from December 2011 after Rainer Beaujean left the group.

Arendt will return to the supervisory board of Demag Cranes. At the same time, Fred Schumacher, who was appointed by the district court in Düsseldorf as an interim member of the supervisory board after Arendt was seconded to the management board, will now depart.

Demag chairman Michael Ernestus said: “I am very pleased we were able to arrange for Lawrence Lockwood, an acknowledged, experienced financial expert, to take on this post of CFO. At the same time, I would like to thank Axel Arendt for his dedicated work as interim member of the management board of Demag Cranes. We look forward to working with him again on the supervisory board. We would also like to thank Fred Schumacher very much for his valuable contribution during his time as interim member of the supervisory board.”