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.