John Garrison, Terex president and chief executive, has also taken the position of chairman of the board as of 15 August 2018.
Garrison succeeds David Sachs, non-executive chairman. Sachs was appointed lead director in May 2013 and will now again take up that role.
Sachs commented, “I would like to congratulate John on his election to serve in the additional capacity of chairman of the Board. Under his leadership, management has taken significant steps to better position Terex for the future while executing the company’s Focus, Simplify and Execute to Win strategy and I am convinced that the best is yet to come for John and the Terex team. John’s strong track record as CEO of Terex, coupled with his experience sitting on the Terex Board, leaves me confident that the role of chairman will be in good hands.”
Commenting on his appointment, Garrison said, “I appreciate the Board’s support and confidence and I look forward to leading Terex on our mission to provide solutions to our machinery and industrial product customers that yield superior productivity and return on investment.
“On behalf of Terex, I would like to thank David for his leadership and contributions to the company as chairman and look forward to his continued contributions as lead director.”