Former longtime Terex chairman and CEO Ron DeFeo has been named president and CEO of Kennametal Inc., effective immediately. DeFeo is replacing Donald Nolan, who left the company to pursue other interests after working as president and CEO since Nov. 2014. DeFeo has been a Kennametal board member since 2001.
“We have determined a change in leadership is necessary and are pleased that Ron will step into this role,” said Kennametal chairman Lawrence Stranghoener. “Ron is a highly experienced CEO who will bring much wisdom, experience and passion for Kennametal. He will sharpen our focus, prioritize our results, and motivate, engage, and empower our people to produce the financial results that are expected of an industry leader like Kennametal”
DeFeo joined Terex in 1992, has been CEO since March 1995 and chairman since March 1998. The company grew dramatically through his tenure with the acquisition of Genie Industries and several other construction manufacturers.
“As a 14-year member of the Kennametal board, I know what the company and its people are capable of achieving,” DeFeo said. “I’m excited about the potential embedded in Kennametal and with over 20 years of CEO experience, I am excited to get to work on behalf of Kennametal’s employees, customers and shareholders.”
DeFeo began his career in 1974 at Procter & Gamble, was senior vice president of J.I. Case Co., and managing director of Case Construction Equipment throughout Europe.
Kennametal is a global industrial technology leader in materials science, tooling and wear-resistant solutions for customers in aerospace, earthworks, energy, general engineering and transportation. The company is based in Latrobe, Pa.
