Astec Industries announce CEO transition
Jaco van der Merwe succeeds Barry Ruffalo as president and chief executive officer
ASTEC Industries Inc have appointed Jaco van der Merwe as president and chief executive officer and a member of the Astec Industries board of directors. He succeeds Barry Ruffalo who has stepped down with immediate effect.
Originally from South Africa, Mr van der Merwe (pictured) is a naturalized US citizen who joined Astec in 2016 as a group president and currently serves as group president – Infrastructure Solutions, a role he assumed in 2019. Prior to Astec he had an 18-year career at Atlas Copco, including the role of president of Atlas Copco Mining and Rock Excavation in Johannesburg, South Africa.
William D. Gehl, chairman of the board of Astec Industries, said: ‘We are fortunate to have someone with Jaco’s experience and skill to assume the role of CEO. He is a proven leader and has a thorough understanding of our business.
‘Prior to joining Astec in 2016, Jaco held various leadership positions with P&L responsibilities within the construction equipment industry. His knowledge of our Materials Solutions and Infrastructure Solutions markets and products makes him uniquely suited to lead Astec to the next level of our Simplify, Focus and Grow journey.
‘We would also like to thank Barry Ruffalo for his efforts at Astec and wish him the best in his future endeavours.’
Mr van der Merwe commented: ‘It is an honour to be the CEO of Astec and I look forward to our journey together. The hardworking people of Astec are the key to our success.
‘Our company has a 50-year history of designing, engineering, manufacturing and servicing the most innovative, efficient and dependable equipment solutions within the rock-to-road segment of the construction industry. By working together with a dedicated focus on execution, we will create value for our shareholders, customers, and employees.’
Astec manufacture specialized equipment for asphalt road building, aggregate processing and concrete production. The company’s manufacturing operations are divided into two primary business segments: Infrastructure Solutions, which includes road building, asphalt, and concrete plants, and thermal and storage solutions; and Materials Solutions, which includes aggregate processing equipment.