John L. Garrison

Terex Corporation has named John L. Garrison, Jr. as chief executive officer and president effective from November 2, 2015, at which time he will also become a member of the Terex board of directors. Garrison will succeed outgoing CEO Ronald M. DeFeo, who will continue to serve as executive chairman of the company until December 31, 2015.

Garrison joins Terex from Textron, where he served as president and CEO of the Bell Helicopter Segment. Prior to that, he was president of Textron's Industrial Segment and E-Z-GO. He was also president and CEO at Azurix Corporation, held senior leadership positions at Case Corporation, and served as an officer in the United States Army.

Garrison is a 1982 graduate of the United States Military Academy at West Point and received a Master of Business Administration from the Harvard Business School.

Garrison takes the helm as the role expands in the wake of the August agreement between Terex and Konecranes.

That agreement will see the two companies merge, to become Konecranes Terex Plc.

Under the agreement, Konecranes' current chairman will become Konecranes Terex's chairman and the Terex CEO will become the Konecranes Terex CEO upon and subject to the completion of the merger.

Meanwhile, Panu Routila will start as the new president and CEO of Konecranes Plc on November 1, 2015.

He succeeds Pekka Lundmark, who left Konecranes on September 5, 2015 to pursue his career outside the company.

Routila will transfer from Ahlström Capital, where he has been president and CEO since 2008. Ahlström Capital is one of Finland's largest investment companies.

The merger is still subject to regulatory approval.