NORWALK, Conn. - Terex Corporation (NYSE: NYSE:TEX), a global manufacturer of materials processing machinery and aerial work platforms, has announced the appointment of R. Mark Cox as its new Senior Vice President Corporate Development. Cox assumes his new role effective immediately, succeeding Randy S. Williamson who is retiring.
Cox brings a wealth of experience to Terex, having previously served as Executive Vice President of Corporate Development at Trinity Industries (NYSE:TRN), Inc. since 2021. His career spans over 28 years, with senior roles in mergers and acquisitions at Wabtec Corporation, Eaton (NYSE:ETN) Corporation, and Stone Canyon Industries. He also has a background in investment banking, with positions at US Warburg and Prudential (LON:PRU) Securities.
Simon Meester, Terex President and CEO, expressed his enthusiasm about Cox's appointment, stating, "He is a seasoned executive with more than 28 years of experience in corporate development, strategy, and mergers & acquisitions with high-growth and Fortune 500 companies. I am confident he will be instrumental in helping Terex accelerate its growth."
Cox's academic credentials include a Bachelor of Science in Commerce from the McIntire School of Commerce and a Master of Business Administration from the Darden (NYSE:DRI) School, both at the University of Virginia.
Terex is known for its product range that includes machinery used in maintenance, manufacturing, energy, recycling, minerals, and materials management, and construction applications. The company emphasizes its commitment to environmental sustainability through products that offer electric and hybrid performance, support renewable energy, and aid in material recovery from waste. Terex operates in various international markets, with manufacturing facilities spread across North America, Europe, Australia, and Asia.
This strategic appointment is part of Terex's ongoing efforts to strengthen its executive leadership team and drive forward the company's development and growth strategies. The information in this article is based on a press release statement from Terex Corporation.
InvestingPro Insights
As Terex Corporation (NYSE: TEX) welcomes R. Mark Cox to its executive team, the company's financial health and market performance are key indicators of its potential to thrive under new leadership. Terex boasts a robust market capitalization of $4.22 billion, reflecting investor confidence and the company's significant presence in the industry.
An InvestingPro Tip highlights that Terex has a perfect Piotroski Score of 9, suggesting that the company is financially healthy and has sound accounting practices. This could be particularly relevant given Cox's extensive experience in corporate development and strategy, which could further capitalize on the company's strong financial foundations.
Additionally, Terex's P/E ratio stands at a low 8.13, indicating that the stock may be undervalued relative to its earnings. This is reinforced by the company's low PEG ratio of 0.11 for the last twelve months as of Q4 2023, suggesting that the stock is also potentially undervalued when considering its earnings growth rate.
Investors are also likely to be encouraged by Terex's consistent dividend growth, with the company having raised its dividend for 3 consecutive years. This commitment to returning value to shareholders is further evidenced by the impressive 30.77% dividend growth over the last twelve months as of Q4 2023.
For those seeking more in-depth analysis and additional InvestingPro Tips, such as insights into the company's profitability and stock price volatility, Terex's profile on InvestingPro offers a comprehensive overview. As an added benefit, readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to more than 10 additional tips for informed investment decisions.
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