21.06.2007

Maxim elects new chairman

The world's largest crane rental company Maxim Crane Works has elected a new chairman, Jack McGovern to replace Bill Redmond.

Redmond, chairman since February 2005, has resigned from the board due to other business committments.

The company went through a chapter 11 bancruptcy process in 2004 to 2005 and is currently in a process of buying back up to 2.5 million shares of its common stock, and share equivalents - just under 25 percent of its outstanding shares.

See Maxim to buy back shares

McGovern became a director of Maxim Crane Works on January 31, 2005 and has served as chairman of the audit committee. He currently serves on the Board of Directors of several companies and from 1981 to 1999 he held several positions with Georgia-Pacific Corporation, most recently as executive vice president, finance and chief financial officer from 1994 to 1999.

McGovern will continue to serve as a member of the Maxim Crane works audit committee. Todd A. Robinson has assumed the role of chairman of the audit committee.