Terex announces leadership succession plan
By Adam FreillConstruction Equipment
Garrison, Jr. to retire in January; Terex Aerial Work Platforms president, Simon Meester, set to become company’s next CEO.
John L. Garrison, Jr. is retiring as chairman and chief executive officer and a member of the board of directors at Terex Corporation, effective January 1, 2024. He will be succeeded as CEO by Simon Meester, current president of Terex Aerial Work Platforms. Meester will also join the company’s board. David Sachs, currently lead independent director of the Terex Board will become non-executive chairman of the board, effective January 1, 2024.
The company says Garrison will work closely throughout the remainder of 2023 with Meester to ensure a seamless and orderly transition of responsibilities. Garrison will continue as a consultant for Terex until June 30, 2024.
Terex has also announced that Joshua Gross, currently vice-president of global strategy and product management at Genie, will be promoted to president of Genie.
“Leading Terex has been the highlight of my career,” stated Garrison. “Without a doubt, our success and achievements have been driven by our dedicated, engaged team members who live our Terex Way Values and Zero Harm Safety culture each and every day. Terex is in as strong a position as it has ever been in and now is the right time to begin the transition to Terex’s next leader.”
“On behalf of the entire board, I want to thank John for his significant contributions, leadership and dedicated years of service to Terex,” said Sachs. “Since his appointment as CEO, he has been instrumental in transforming our company into the Terex of today, which comprises a very strong portfolio of market leading businesses. Under his leadership, Terex has experienced remarkable success and remains well positioned for continued growth.”
“I am excited and humbled to be named the next CEO of Terex,” said Meester. “It is an honour and privilege to represent our dedicated and hardworking team members. We are in a great position for the future given our strong foundation, and I look forward to continuing to work closely with John to ensure a seamless transition. In the months ahead, I also will continue to work closely with Josh Gross to ensure a smooth transition at Genie.”