DeFeo appointed Kennametal president and CEO
By Alex Dahm10 February 2016
Ron DeFeo, Terex Corporation's immediate past chairman and CEO, has been appointed president and chief executive officer at Kennametal Inc in the USA. A member of the Kennametal board since 2001, DeFeo has replaced Donald Nolan, who has left the company.
Commenting on the appointment, Lawrence Stranghoener, Kennametal chairman, said, “We have determined a change in leadership is necessary and are pleased that Ron will step into this role. Ron is a highly experienced CEO who will bring much wisdom, experience and passion for Kennametal.”
DeFeo said, “As a 14-year member of the Kennametal board, I know what the company and its people are capable of achieving. I’m excited about the potential embedded in Kennametal and with over 20 years of CEO experience, I am excited to get to work on behalf of Kennametal’s employees, customers, and shareholders. I am confident in what we can accomplish together.”
Kennametal makes construction equipment wear parts, metalworking tools, and other industrial machine parts in metal and ceramics. It generated more than US$ 2.6 billion in revenue in 2015 and has 12,000 employees.