20.08.2015

Tim Ford leaves Terex

Tim Ford, president of Terex Cranes since January 2013 and previous head of Genie/Terex AWP, is leaving the company “to pursue other opportunities”.
He joined Terex in October 2006, taking over Genie from co-founder Bob Wilkerson. Prior to that he was executive vice president of the Toro company.
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Tim Ford

Ken Lousberg, currently president of Terex China, will take over Ford’s role at Terex Cranes as well as his responsibility for South America, while retaining responsibility for China. A new country leader will be recruited for the Chinese business, and will report to Lousberg.

Lousberg joined Terex when it acquired Genie in 2002 - where he had worked since 1997 - and has held several senior management positions within Terex since then.
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Ken Lousberg

George Ellis, currently responsible for Terex Construction, Government Programmes and India, will take on a new role as senior vice president, operations planning and president of Terex Construction, in addition to his current duties.

He will also assume global responsibility for the Terex Business System, sourcing, transportation, logistics, and manufacturing footprint. Ellis also joined Terex through the Genie acquisition and has held senior management positions at various Terex operations.
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Scott Hensel

Scott Hensel, vice president Terex Services North America, has added a new role of managing director Terex Utilities and Services to his current duties, reporting to Lousberg. Hensel was previously a partner at McKinsey & Company and joined Terex in 2014 to improve and grow the Terex Services North America business.
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George Ellis

Kieran Hegarty, Terex Materials Processing president, will assume management responsibility for the Terex Fuchs business which will become part of the Terex Materials Processing segment.

Terex chief executive Ron De Feo 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 organise 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 endeavours.”

“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 the 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.”

Vertikal Comment

This is something of a surprise, although it seems that we have a Terex senior management reshuffle every two to three years, Lousberg being the fifth president of Terex Cranes since 2008. What spurred on the departure of Tim Ford we do not know, but Lousberg has a good deal of experience with Terex Cranes and other parts of the Terex business, and is well qualified for the role.

The company has intimated that planning for the merger and integration with Konecranes needs to get moving, while it progresses through its various approval stages, and this might have contributed towards the changes.

In a recent discussion concerning the merger Ron De Feo acknowledged that
Terex Cranes was in third place behind Liebherr and Manitowoc, with Tadano close behind. It needs to grow the business in order to both stay in the top three and possibly move past Manitowoc. Lousberg will though have ‘a lot on his plate’ at this critical period in the group’s history.