WESTPORT, Conn.--(BUSINESS WIRE)--June 15, 2004--Terex Corporation
(NYSE:TEX) announced today that its Board of Directors has added Paula
H. J. Cholmondeley as a member of the Terex Board. Ms. Cholmondeley,
currently a private consultant on Strategic Planning, most recently
served as Vice President and General Manager of Sappi Fine Paper,
North America, responsible for their Specialty Products division. Ms.
Cholmondeley has held senior positions with various other companies,
including Owens Corning, The Faxon Company, Blue Cross of Greater
Philadelphia, and Westinghouse Elevator Company, and also served as a
White House Fellow assisting the U.S. Trade Representative during the
Reagan administration. Ms. Cholmondeley, a certified public
accountant, is an alumnus of Howard University and received a Masters
degree in accounting from The University of Pennsylvania, Wharton
School of Finance. Ms. Cholmondeley is also a director of Dentsply
International Inc., a manufacturer of products for the dental
industry, as well as Gartmore Capital.
Commenting on the addition of Ms. Cholmondeley, William Fike,
Terex Lead Director, said, "We are very pleased to have Paula
Cholmondeley join our Board of Directors. Her long and distinguished
career will make her a valuable addition to the Board of Terex
Corporation." Mr. Fike continued, "Today's environment puts a premium
on financial oversight and controls, and Ms. Cholmondeley's business
and financial management experience will benefit Terex and its
shareholders."
Ron DeFeo, Terex's Chairman and CEO, stated, "The business
expertise and varied background of Ms. Cholmondeley make her a
valuable addition to our Board. We are pleased that she has decided to
join us at this exciting stage of our company's growth and
development."
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