Ronald M. DeFeo

Ronald M. DeFeo is the CEO and chairman of Terex Corp. He is credited with having implemented the Terex Business System (TBS), focused on improving and strengthening the company’s operations.

DeFeo is also known as an outspoken proponent of investment in America’s infrastructure.^[1]

[edit] History

[edit] Education

Before beginning his career in the heavy equipment industry, Ron DeFeo earned Bachelor of Arts degrees in Economics and Philosophy at Iona College in New Rochelle, New York. Years later, DeFeo would join the school’s Board of Trustees, which he remains a part of today.

[edit] Pre-Terex Career

Early in his career, Ron DeFeo served as Senior VP of J.I. Case Co., which was the farm and construction equipment division of Tenneco. DeFeo was also the managing director of Case Construction Equipment in Europe, the VP of North American construction equipment sales, and the general manager of retail operations.

Following this, DeFeo worked in brand management at Procter & Gamble, where he remained for a decade.

[edit] Career with Terex

On May 1, 1992, Ron DeFeo assumed the role of president of Terex’s former heavy equipment division. The following year, he became president of the company’s former subsidiary, Clark Material Handling Co.

In 1993 Ron DeFeo was named president and COO of Terex Corp. Two years later, he assumed the role of CEO. In 1998 DeFeo was appointed chairman of the board.

On January 3, 2007, DeFeo relinquished his titles of president and COO, leaving him with the roles of chairman and CEO.^[2]

In early 2009 Ron DeFeo made headlines when he declined his $1.17-million bonus for the 2008 year. He stated that he wished to “share some of the economic burden” the company was facing as a result of the global recession.^[3]

[edit] DeFeo’s Contributions to Terex

Ron DeFeo has made significant changes to business operations during his career with Terex. He implemented the Terex Business System (TBS), which emphasizes customer-focused operations, continuous improvement, leadership superiority, and excellent human resources. In conjunction with these four basic tenets, the TBS also emphasizes that, in the context of manufacturing operations, employees are empowered to review current practices and make recommendations to maximize efficiency and eliminate waste.^[4]

DeFeo’s leadership led the company to experience a 27-percent 12-year compound annual growth rate.^[5]

[edit] Community Involvement

As a strong believer in the need to adequately invest in U.S. infrastructure, Ron DeFeo has undertaken the task of educating the public about this issue. Early in 2008 he organized a national conference at a college campus aimed to bring together leaders in government, business, and various other areas. DeFeo’s intention in creating this event was not only to convey to students the importance of maintaining U.S. infrastructure, but also to allow elected officials to view the issues in unbiased terms.^[6]

DeFeo also takes an interest in giving back to the community. His company currently matches any employee donation to a non-profit organization, up to $2,500.^[7]

[edit] Recognition

On November 11, 2008, Ron DeFeo was inducted into the AEM Hall of Fame. The induction took place during the AEM Annual Conference in Arizona.^[8]

[edit] References

1. ↑ AEM equipment manufacturing Hall of Fame announces new inductees. Official AEM website. 11-12-08.
2. ↑ About. Official Terex website. 03-13-09.
3. ↑ Terex CEO, Ron DeFeo declines $1.17m bonus. Aggregate Research. 03-05-09.
4. ↑ Integrating the Terex Business System (TBS) and Lean Manufacturing into Terex. ASV. 12-22-08.
5. ↑ AEM equipment manufacturing Hall of Fame announces new inductees. Official AEM website. 11-12-08.
6. ↑ AEM equipment manufacturing Hall of Fame announces new inductees. Official AEM website. 11-12-08.
7. ↑ AEM equipment manufacturing Hall of Fame announces new inductees. Official AEM website. 11-12-08.
8. ↑ AEM equipment manufacturing Hall of Fame announces new inductees. Official AEM website. 11-12-08.