October 26 - With immediate effect, Steve Filipov has replaced Ken Lousberg as president, Terex Cranes.

Lousberg is leaving the company to pursue other opportunities, whilst Filipov will also continue with his responsibilities as president of Terex's material handling and port solutions (MHPS) segment until completion of the previously announced sale of that segment to Konecranes.

John L. Garrison Jr, president and chief executive officer said: "Steve is the right person to lead the turnaround efforts to improve our global cranes business.

"He started his career at Terex in the company's crane business and served as president of Terex Cranes from 2004 to 2008."