WESTPORT, Conn.--(BUSINESS WIRE)--Oct. 22, 2012--
Terex Corporation (NYSE: TEX) today announced that Phil Widman will be
retiring as Senior Vice President and Chief Financial Officer. Mr.
Widman will continue as Chief Financial Officer of the Company into the
first half of 2013 to oversee the year-end accounting close and annual
audit process, the filing of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2012 and to facilitate an orderly
transition of his responsibilities. The Company has initiated a search
to identify a Chief Financial Officer and expects to conclude the search
process expeditiously.
“During his ten years as Chief Financial Officer of Terex, Phil has been
a key contributor to the Company’s growth and success,” said Ron DeFeo,
Terex Chairman and Chief Executive Officer. “Phil’s personal commitment
to the highest standards of financial integrity has helped define
Terex’s finance organization and our Company as a whole. We thank Phil
for his many contributions to Terex over the past ten years, look
forward to Phil’s ongoing efforts throughout this transition and wish
him the best of luck in his retirement.”
Mr. Widman remarked, “I’ve had a rewarding ten years at Terex and it
wouldn’t have been so without the support and talent of all of the
people with whom I have worked. I look forward to an active retirement
and continuing to stay involved in the business community as an external
director at other companies.”
Forward Looking Statements
This press release contains forward-looking information based on the
current expectations of Terex Corporation. Because forward-looking
statements involve risks and uncertainties, actual results could differ
materially. Such risks and uncertainties, many of which are beyond the
control of Terex, include those factors that are more specifically set
forth in the public filings of Terex with the Securities and Exchange
Commission. Actual events or the actual future results of Terex may
differ materially from any forward looking statement due to those and
other risks, uncertainties and significant factors. The forward-looking
statements speak only as of the date of this press release. Terex
expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statement included in
this press release to reflect any changes in expectations with regard
thereto or any changes in events, conditions, or circumstances on which
any such statement is based.
About Terex
Terex Corporation is a diversified global manufacturer reporting in five
business segments: Aerial Work Platforms, Construction, Cranes, Material
Handling & Port Solutions and Materials Processing. Terex manufactures a
broad range of equipment for use in various industries, including the
construction, infrastructure, quarrying, manufacturing, mining,
shipping, transportation, refining, energy and utility industries. Terex
offers financial products and services to assist in the acquisition of
Terex equipment through Terex Financial Services. Terex uses its website
to make information available to its investors and the market at www.terex.com
Source: Terex Corporation
Terex Corporation
Tom Gelston, 203-222-5943
Vice President,
Investor Relations
thomas.gelston@terex.com