ORGANISATION STRUCTURE. In order to reflect the industrial leadership as set forth in Section 3.4, it is the Parties' intention that Demag Cranes is operated as a separate and independent operating segment similar to Terex' current Cranes, Construction, Aerial Work Platforms and Material Processing segments and that the Management Board shall continue to have at least the same areas of responsibility for the Demag Cranes business as currently held by the senior management of other Terex segments, and that this responsibility shall vest with a corresponding Demag Cranes Operating Segment Board (such Demag Cranes Operating Segment Board shall be the Management Board). With due regard to the status of Demag Cranes as a member of the Terex Group, the Demag Cranes Operating Segment Board shall have the following areas of responsibility: (a) Operating segment CEO (Chief Executive Officer) with responsibility for the Service Segment, Corporate Strategy, Compliance, Legal Affairs, Corporate Com-muni-cation & Marketing, Internal Audit, Regional Subsidiaries, Executive Training & Coaching, Human Resources; (b) Operating segment COO (Chief Operating Officer) with responsibility for the Industrial Cranes Segment and Port Technology Segment; and (c) Operating segment CFO (Chief Financial Officer) with responsibility for Investor Relations, Accounting, Treasury & Insurance, IT, Planning, Reporting & Financial Controlling, Tax, Mergers & Acquisitions and Purchasing, in each case including all subsidiaries, joint ventures and investments in affiliates of Demag Cranes AG ("Subsidiaries" or "Subsidiary"), provided however, that • the members of the Demag Cranes Operating Segment Board shall, to the extent permissible under German law, cooperate to ensure compliance of Terex with its requirements as a US-listed company; and • upon effectiveness of the Domination Agreement, the areas of responsibilities shall be in line with the structure of responsibilities within the Terex Group. The Demag Cranes Operating Segment CEO shall (i) receive the title of "President of Demag Cranes", (ii) report directly to the chairman and chief executive officer of Terex, and (iii) be a member of the Terex Executive Leadership Team.
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ORGANISATION STRUCTURE. In order to reflect the industrial leadership as set forth in Section 3.4, it is the Parties' intention that Demag Cranes is operated as a separate and independent operating segment similar to Terex' current Cranes, Construction, Aerial Work Platforms and Material Processing segments and that the Management Board shall continue to have at least the same areas of responsibility for the Demag Cranes business as currently held by the senior management of other Terex segments, and that this responsibility shall vest with a corresponding Demag Cranes Operating Segment Board (such Demag Cranes Operating Segment Board shall be the Management Board). With due regard to the status of Demag Cranes as a member of the Terex Group, the Demag Cranes Operating Segment Board shall have the following areas of responsibility:
(a) Operating segment CEO (Chief Executive Officer) with responsibility for the Service Segment, Corporate Strategy, Compliance, Legal Affairs, Corporate Com-muni-cation & Marketing, Internal Audit, Regional Subsidiaries, Executive Training & Coaching, Human Resources;
(b) Operating segment COO (Chief Operating Officer) with responsibility for the Industrial Cranes Segment and Port Technology Segment; and
(c) Operating segment CFO (Chief Financial Officer) with responsibility for Investor Relations, Accounting, Treasury & Insurance, IT, Planning, Reporting & Financial Controlling, Tax, Mergers & Acquisitions and Purchasing, in each case including all subsidiaries, joint ventures and investments in affiliates of Demag Cranes AG ("Subsidiaries" or "Subsidiary"), provided however, that • the members of the Demag Cranes Operating Segment Board shall, to the extent permissible under German law, cooperate to ensure compliance of Terex with its requirements as a US-listed company; and • upon effectiveness of the Domination Agreement, the areas of responsibilities shall be in line with the structure of responsibilities within the Terex Group. The Demag Cranes Operating Segment CEO shall (i) receive the title of "President of Demag Cranes", (ii) report directly to the chairman and chief executive officer of Terex, and (iii) be a member of the Terex Executive Leadership Team.. 11
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Sources: Business Combination Agreement