Terex President/COO Resigns

January 5, 2011

Thomas Riordan, president and chief operating officer for Terex, has announced his resignation effective January 31. His responsibilities will be assumed by chairman and CEO Ron DeFeo.

In other management changes, Kevin Bradley has been named president of Terex Cranes, reporting to Mr. DeFeo, effective immediately. Mr. Bradley had been president of  Terex Financial Services. According to a company release, "Bradley has led the successful establishment of TFS as a global captive finance company and a facilitator of the future growth of Terex."

“Kevin Bradley is the right person to lead our efforts to improve relationships with large global crane customers and continue the globalization of our crane business," said DeFeo.

Former president of Terex Cranes, Richard Nichols, will be leaving Terex at the beginning of February.

Ramon Oliu has been appointed president of Terex Financial Services to replace Bradley. Oliu joined TFS in 2007 as the business development leader and later added responsibility for TFS operations, risk management, and IT.