Steve Filipov has been named president of Terex Cranes, taking over the role from Ken Lousberg, who is leaving the company to pursue other opportunities, according to Terex.
Filipov, who was Terex Cranes president from 2004 to 2008, will continue with his responsibilities as president of the Terex Material Handling and Port Solutions segment until completion of the announced sale of that segment to Konecranes, Terex said.
Commenting on the move, John Garrison, Terex Corporation president and CEO, said, “We thank Ken for his dedicated service and leadership over many years within the AWP segment, Terex China and his current position with Terex Cranes, and wish him the best in his future endeavors.”
Lousberg was named president of Terex Cranes in August 2015.
Garrison added that, “Steve is the right person to lead the turnaround efforts to improve our global cranes business. Steve started his career at Terex in the company’s crane business. Steve’s intimate knowledge of the Terex Cranes business, its products and, most importantly, its customers will put him in an excellent position to start immediately with the work of improving and growing our cranes business.”
Terex also said that Kevin O’Reilly, Terex vice president, operational finance, will assume the position of group vice president, finance in the Terex Cranes segment, assisting Filipov with the turnaround.
“O’Reilly has held a number of senior finance roles at Terex over many years including corporate controller, segment finance leader, business development and strategy, and investor relations,” said Garrison. “Kevin’s strong operational finance experience and achievements make him the ideal choice to provide the financial leadership and support that Steve and the entire Cranes team need as they position Cranes for success.”