Eric A. Nielsen Named President, Terex Materials Processing & Mining
WESTPORT, CT, June 9, 2008 – Terex Corporation (NYSE: TEX) today announced that Eric A. Nielsen has been named President, Terex Materials Processing & Mining, effective today. He will report to Terex President and Chief Operating Officer Thomas J. Riordan.
Mr. Nielsen, 48, joins Terex from Volvo Construction Equipment, where he served as President and Chief Executive Officer, Volvo Excavators and Volvo Group Korea, since 2000. Under his leadership, the group grew into a large global operation. From 1998-2000, Mr. Nielsen was Chief Financial Officer and Chief Information Officer, Volvo Construction Equipment Korea. He began his tenure with the company in 1994 as Vice President, Business Control and Information Systems.
“Eric Nielsen brings to his new role as President of Terex Materials Processing & Mining an impressive combination of technical knowledge, strategic and financial skills, and hands-on operational experience,” said Mr. Riordan. “His expertise in running global businesses will certainly complement our own globally diverse organization.”
Prior to his tenure at Volvo, Mr. Nielsen held leadership positions at WECO Metals and FMC Corporation. During his early career, he held various engineering and product marketing roles. Mr. Nielsen holds an MBA with a concentration in finance and international business from the University of Chicago, and a Bachelor of Science in mechanical engineering from Michigan Technological University.
Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. Terex operates in five business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining, and Terex Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.