After a 15-year career highlighted by strategic acquisitions, transformational growth and business globalization, Terry Growcock, chairman of the board of The Manitowoc Co. last week announced his intention to retire effective Dec. 31.

Growcock, 63, has served as Manitowoc's chairman of the board since 2007. Previously, he served as chairman and CEO from 2002 to 2007, and president and CEO from 1998 to 2002. Growcock joined the company in 1994 as executive vice president of Manitowoc Ice. In 1995, he was appointed president of Manitowoc Foodservice Group and served in that capacity until his promotion to president and CEO of the corporation in 1998. Prior to joining Manitowoc, Growcock served in numerous management and executive positions with Siebe plc and United Technologies.

"Terry has truly been a transformational figure at Manitowoc," said CEO Glen Tellock. "He has taken us from a revenue base of $700 million in 1998 to more than $4 billion today. Under his leadership, our Crane segment has grown from a North American-based business to a market-leading global manufacturer of crawler cranes, tower cranes and mobile telescopic cranes. Similarly, Terry was instrumental in growing our Foodservice segment from a U.S.-focused provider of commercial ice machines to becoming a global leader in heating, cooking, ice, beverage and refrigeration equipment. All of us at Manitowoc will miss his inspirational leadership, wise counsel and cordial friendship. We sincerely wish him all the best in his retirement."

Headquartered in Manitowoc, Wis., The Manitowoc Co. is a diversified, multi-industry, capital goods manufacturer with 104 manufacturing and service facilities in 27 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.