Leadership shuffle at Terex

March 1, 2013 – Terex Corporation has announced the following leadership
changes: Kevin Bradley, currently president of Terex Cranes, will
transition to the role of senior vice-president and CFO, effective
immediately after the filing of the company’s annual report on form 10-K
for 2012. Bradley was named president of Terex Cranes in January 2011.
Prior to this appointment, Bradley had served as president of Terex
Financial Services since joining Terex in 2005. Prior to joining Terex,
Bradley had financial roles of increasing responsibility at GE Capital
and AT&T Capital. Terex previously announced that Phil Widman would
be retiring as senior vice-president and chief financial officer
effective March 31, 2013.

Tim Ford, currently president of Terex Aerial Work Platforms, will
become president of Terex Cranes effective immediately. The Terex Utilities
business and the recently established Terex Services North America business
will continue to be his responsibility. Ford will also have
direct responsibility for the company’s Latin American operations as well as corporate
strategic accounts and government programs. Ford joined Terex in 2006
following executive assignments at Toro, Honeywell and General Electric.

Steve Filipov, currently president of developing markets and strategic
accounts, will become president of Terex Material Handling and port solutions
effective immediately. Filipov will also assume the position of COO at Demag Cranes as we continue the transition of this business into
the Terex family. Filipov will retain overall Terex responsibility for the
Russian market as well as corporate marketing. Filipov joined Terex in 1995
and has held positions of increasing responsibility, including president of
Terex Cranes from 2004-2008.

George Ellis, currently president of Terex Construction, will
continue in this role and also assume responsibility for the company’s
operations in India. Ellis joined Terex through the Genie acquisition in
2002 and has held several senior management positions at various Terex
operations. Previously he held leadership positions at General Electric, Pratt and
Whitney and PPG Industries.

Matt Fearon, currently vice-president and general manager of AWP
Americas, will become president, Terex AWP effective immediately. Prior to
this, Fearon had been managing director of AWP Europe. Mr. Fearon has 25
years of industry experience and has worked within the Terex/Genie operations
for 18 years.

Aloysius Rauen will continue in his current role as CEO of Demag
Cranes and has announced his intention to resign during the course of 2013
once the integration of the Demag Cranes business into the Terex group is
further along. Upon Rauen’s resignation, Filipov will assume the role
of CEO of Demag Cranes.

“These changes are intended to strengthen the company’s leadership team and
provide our executives with new learning and growth opportunities. They reflect
both a maturing and broadening of scope for the Terex leadership team,”
commented Ron DeFeo, Terex chairman and CEO. “I am
confident that under Kevin’s leadership, Terex will continue to maintain the
highest standards of financial integrity that has helped define Terex’s finance
organization and our company as a whole. Tim, Steve, George and Matt have
demonstrated strong leadership skills during their tenures with Terex and I
believe their increasing responsibilities will serve us and our customers well.
I thank Ays for his dedication to Demag Cranes and its employees and his
efforts in integrating Demag Cranes into the Terex group.”

Related Link
www.terex.com