Article: Fil Filipov to Retire from Terex; Will Continue as Consultant for Tatra & Other Special Projects.

Business Editors

WESTPORT, Conn.--(BUSINESS WIRE)--Nov. 14, 2003

Terex Corporation (NYSE:TEX) today announced that effective January 1, 2004, Fil Filipov, currently President and CEO of Terex Cranes, will retire from full time employment with the Company. Mr. Filipov will continue, through a newly formed consulting company focused on restructuring activities, to serve Terex as a consultant working on special projects. Mr. Filipov has committed to consult with the Company for a period of three years for a minimum of 26 weeks a year. Initially, Mr. Filipov and his company will assist with the restructuring, integration and operation of Tatra, the Company's ...

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