WESTPORT, Conn.--(BUSINESS WIRE)--May 13, 2004--Terex Corporation
(NYSE: TEX) today announced that Bob Wilkerson, currently President of
Terex Aerial Work Platforms, has been given additional responsibility
for overseeing and accelerating the changes underway as part of the
Terex Improvement Process ("TIP"). Mr. Wilkerson will continue as
President of Terex Aerial Work Platforms, although some of his
day-to-day responsibilities will be reassigned to the existing Terex
Aerial Work Platforms management team.
"I am excited about this opportunity," commented Bob Wilkerson.
"The TIP teams have already made breakthrough progress in certain
areas. This new position will allow Terex to greatly accelerate the
rate of change, by allowing me to work with the senior staff directly
and focus our efforts on the most important areas of required change."
"I am delighted that Bob has accepted this newly created
responsibility," commented Ronald M. DeFeo, Chairman and Chief
Executive Officer of Terex Corporation. "I firmly believe that over
the next couple of years the changes we make will be transformational
and critical to achieving our stated goals. We will be building and
installing the Terex Operating System broadly within Terex, a system
that combines the best practices from all of the Terex businesses."
Mr. DeFeo continued, "The progress achieved to date over a relatively
short period of time makes me more excited about what we have to do to
systematically improve, and this is an important and appropriate step
to that end."
Terex Corporation is a diversified global manufacturer with 2003
revenues of $3.9 billion. The Company operates in five business
segments: Terex Construction, Terex Cranes, Terex Aerial Work
Platforms, Terex Mining, and Terex Roadbuilding, Utility Products and
Other. Terex manufactures a broad range of equipment for use in
various industries, including the construction, infrastructure,
quarrying, recycling, surface mining, shipping, transportation,
refining, utility and maintenance industries. Terex offers a complete
line of financial products and services to assist in the acquisition
of Terex equipment through Terex Financial Services. More information
on Terex can be found at www.terex.com.
CONTACT: Terex Corporation
Tom Gelston, 203-222-5943
SOURCE: Terex Corporation