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Garrison to succeed longtime Terex chief DeFeo

Source: Terex Corp., Westport, Conn.

As it approaches a merger with Finland’s Konecranes, Terex has named John L. Garrison Jr. chief executive officer, president and director effective November 2. He replaces Ron DeFeo, who is retiring after 23 years at the helm, but will serve as executive chairman through year’s end, and continue as a consultant through 2016.

Garrison joins Terex from Textron Inc., where he was Bell Helicopter Segment president and CEO and Industrial Segment president. He held those same titles at Azurix Corp. along with senior leadership positions at Case Corp., and was an officer in the U.S. Army. Garrison is a 1982 graduate of the United States Military Academy at West Point and holds a Master of Business Administration from the Harvard Business School.

“John is a proven leader with considerable experience across a variety of industries. The board considered a pool of outstanding candidates and we strongly believe that John is the right person to lead Terex and Konecranes Terex into the future,” says Terex Director David Sachs, acknowledging DeFeo’s “many contributions to Terex over the years and leadership through both good and bad economic cycles.”

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