17.10.2023

New CEO for Terex

Terex chief executive John Garrison is to retire at the end of the year, he will be replaced by Genie/Terex AWP president Simon Meester, who will naturally also join the Terex board.

Garrison will work closely with Meester through the fourth quarter in order to ensure a seamless and orderly transition. He will also continue to be available on a consulting basis until the end of June next year. David Sachs, the lead independent director on the Terex board will become Non-Executive chairman from January.

Simon Meester joined Genie from Eaton in 2018 as vice president, global sales and marketing administration, he was promoted to chief operating officer for Genie in 2020 taking on the title of president the following year. He assumed responsibility for the other parts of the Terex AWP business earlier this year.

Josh Gross currently Genie vice president of global strategy and product management, will take over as president of Genie. Another member of the Eaton alumni, Gross joined Genie in 2019 as director of global marketing and sales operations following an 11 year career with Eaton. A year after he joined Genie, he was promoted to vice president of global commercial operations, assuming his current role last June.

Garrison said: "Leading Terex has been the highlight of my career. Without a doubt, our success and achievements have been driven by our dedicated, engaged team members who live our Terex Way Values and Zero Harm Safety culture each and every day. Terex is in as strong a position as it has ever been in and now is the right time to begin the transition to Terex's next leader. I have had the privilege of working closely with Simon for a number of years and he has proven to be a global, strategic thinker with a natural ability to lead teams and drive results. I have great confidence that he is the right leader for Terex as the company focuses on delivering long term value for its stakeholders."

David Sachs added: "On behalf of the entire board, I want to thank John for his significant contributions, leadership and dedicated years of service to Terex. Since his appointment as CEO, he has been instrumental in transforming our company into the Terex of today which comprises a very strong portfolio of market leading businesses. Under his leadership, Terex has experienced remarkable success and remains well positioned for continued growth. The naming of Simon as the next CEO is the culmination of a thorough and orderly succession planning process undertaken by the Terex board, that included the evaluation of internal and external candidates, to ensure continuity of leadership. The board is confident that Simon is the right choice to lead Terex in its next phase of growth and value creation for our shareholders."

Simon Meester said: "I am excited and humbled to be named the CEO of Terex. It is an honour and privilege to represent our dedicated and hardworking team members. We are in a great position for the future given our strong foundation, and I look forward to continuing to work closely with John to ensure a seamless transition. In the months ahead, I also will continue to work closely with Josh Gross to ensure a smooth transition at Genie. Josh has been a critical member of the Genie leadership team and is the right person to successfully drive Genie's strategic initiatives going forward."

Gross added: "I look forward to working alongside Simon and our leadership team as we continue to provide our customers with industry leading products and services. This is an exciting time for our business and an incredible opportunity to build the future together with our customers."