Election of new chairman sees David Sachs resume his previous role as lead director
TEREX Corporation have announced that their president and chief executive officer, John L. Garrison, has also assumed the position of chairman of the board, with effect from 15 August.
Mr Garrison succeeds David Sachs who has been non-executive chairman since January 2016 and had previously been lead director since May 2013.
With the appointment of Mr Garrison as chairman, Mr Sachs will again assume the role of lead director.
He said: ‘I would like to congratulate John on his election to serve in the additional capacity of chairman of the board.
‘Under his leadership, management has taken significant steps to better position Terex for the future while executing the company’s ‘Focus, Simplify and Execute to Win’ strategy, and I am convinced that the best is yet to come for John and the Terex team.
‘John’s strong track record as CEO of Terex, coupled with his experience sitting on the Terex board, leaves me confident that the role of chairman will be in good hands.’
Mr Garrison (pictured) commented: ‘I appreciate the board’s support and confidence, and I look forward to leading Terex on our mission to provide solutions to our machinery and industrial product customers that yield superior productivity and return on investment.
‘On behalf of Terex, I would like to thank David for his leadership and contributions to the company as chairman and look forward to his continued contributions as lead director.’