Terex signs consulting agreement with retiring CEO Garrison for $540K over 6 months

TEREX CORP

John L. Garrison Jr. retires as CEO Jan 1, 2024; consulting runs through June 30, 2024.
Consulting fee of $90K/month for 6 months, total $540K, paid monthly in arrears.
Services include business development, customer relationships, executive transition.
Agreement includes confidentiality, non-compete, and cooperation clauses.
Garrison was CEO for over 8 years and Chairman for over 5 years.

item 5.02 item 9.01

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Departed

John L. Garrison, Jr.

Chairman and Chief Executive Officer

TEX · TEREX CORP

Effective: 2024-01-01
Filed: December 18, 2023, 6:59 PM ET

John L. Garrison, Jr. the current Chairman and Chief Executive Officer of the Company would retire from the Company effective January 1, 2024

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John L. Garrison, Jr. retired as Chairman and Chief Executive Officer at TEREX CORP.

Action: retired
Role: Chairman and Chief Executive Officer

Exact text from the filing

John L. Garrison, Jr. the current Chairman and Chief Executive Officer of the Company would retire from the Company effective January 1, 2024

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TEREX CORP filing history →

Source: SEC EDGAR

accession 0000097216-23-000223

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