02.08.2019

Steve Filipov leaves Terex

Terex has confirmed that following the completion of the sale of Demag to Tadano Steve Filipov, president of Terex Cranes, is leaving the company.

The remaining Terex Cranes business, which comprises the Italian Tower and Rough Terrain manufacturing companies are now being reported under Corporate, while Franna Cranes has been merged into the Materials Processing division and Terex Utilities into Genie.

Chief executive John Garrison said: “We are grateful to Steve for leading this transition. Steve kept the business on course through the transfer and helped ensure that virtually all of the affected team members had the opportunity to stay with the Demag mobile cranes business after the transaction.”
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Steve Filipov

Filipov joined Terex Cranes when his father, Fil, was leading the business under chief executive Ron DeFeo. He started out as export manager for PPM Cranes in 1995 based in France, having been responsible for Clark Forklift's company store in France since 1993. He became managing director of Atlas in 2001, when Terex helped the Filipovs acquire it before incorporating it into the group later that year. In 2002 he was appointed regional president of the European crane business, which included PPM, Bendini and Demag as well as being responsible for all sales subsidiaries and Franna cranes in Australia.

In 2003 he was appointed as president of Terex Cranes, following the departure of his father, in 2008 he took up a new role with responsibility for ‘Developing Markets and Strategic Accounts', then in 2011 added the responsibility for the Terex tower crane business to his duties, before becoming president of the material handling and port solutions division in 2013 prior to its sale to Konecranes in 2016, at that point he was appointed president of Terex Cranes again, a job he has held until his departure yesterday.

“I am grateful to Terex for giving me the opportunity to continually do new and exciting things,” said Filipov. “I am looking forward to the road ahead – for myself, for my colleagues who will become part of the Tadano organisation, and for everyone at Terex. I believe Terex is well positioned for a bright future.”

Vertikal Comment

This is a surprise, but not a surprise. When the Tadano deal was announced we asked what plans there were for him post Demag, and were told at Bauma that he would stay on board to head up the remaining tower crane and Rough Terrain crane business.

Although this division has its challenges in terms of restructuring its operations and distribution network without the rest of Terex Cranes, it is not a role that needs such a senior level executive, given that John Garrison has a dramatically simpler corporate role in the smaller Terex group business, and is more than capable of looking after the remaining two Terex cranes operations, which are more than well managed by its senior operational and sales managers.

It is hard to imagine the crane business without Steve Filipov, and it is hard to imagine that with all his contacts and experience he will be able to leave the industry.

Watch this space.