Terex Corporation recently announced several senior executive changes.

Thomas Riordan, president and COO, has announced his resignation from Terex effective January 31. The company does not intend to fill Mr. Riordan’s position in the near term and his current responsibilities is currently assumed by Ronald M. DeFeo, Terex chairman and CEO.

Kevin Bradley has been named president, Terex Cranes, reporting to Mr. DeFeo, effective immediately. Mr. Bradley has served as president, Terex Financial Services (TFS) since he joined Terex in 2005. Prior to joining Terex, Mr. Bradley spent nine years each at General Electric Capital Corporation and AT&T Capital Corporation, holding positions of increasing responsibility.

Mr. Bradley took on his new role as Richard Nichols, formerlypresident, Terex Cranes, left Terex to pursue other opportunities at the beginning of February.

Ramon Oliu has been appointed to the position of president, Terex Financial Services, assuming the role formerly held by Mr. Bradley. Mr. Oliu joined TFS in 2007 as the Business Development Leader. In 2009, he assumed the added responsibility for TFS Operations, Risk Management, and IT.

Prior to joining Terex, he also held significant roles with Virgin Mobile USA and AT&T Capital Corporation. In his new role, he will report to Phillip Widman, Terex senior vice president and CFO.

Additionally, Terex Corporation will soon be announcing the newly created position of senior vice president, Terex Business System (TBS), reporting to Mr. DeFeo. The company is in the final stages of selecting from a slate of highly qualified internal candidates for this critical leadership role, which will be responsible for developing and implementing the Terex Business System and accelerating the enterprise-wide transformation of Terex into a world-class, customer-focused operating company.

Source: Terex Corporation

Sandvik’s Board of Directors has appointed Olof Faxander as new president and CEO with effect from February 1st, 2011.

Olof Faxander succeeded Lars Pettersson who, after nine years as CEO, left Sandvik in conjunction with an impending generation shift in the company’s Group Executive Management. The change has been made in light of a homogeneous age structure and allows a new president to personally shape the future executive management team.

Source: Sandvik AB

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