28.10.2015

Glen Tellock quits Manitowoc

Glen Tellock has resigned as chief executive of Manitowoc to pursue other interests, non executive director Kenneth W. Krueger has taken over as interim chairman and chief executive officer, effective immediately.
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Glen Tellock

The company has also initiated a search for a chief executive for Manitowoc Cranes, while Hubertus Muehlhaeuser will remain as chief executive of Manitowoc Foodservice.

Roy Armes Manitowoc’s lead non-executive director said: “Manitowoc has maintained its industry-leading positions in Cranes and Foodservice in spite of significant macro-economic headwinds and operational issues over the last 18 months. The board of directors, however, believe this is the right time for new leadership at the company. Ken’s deep knowledge of Manitowoc’s businesses, coupled with his robust financial and operational expertise, make him an excellent choice to lead the company’s efforts as we execute a search for our next chief executive officer”.
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Kenneth W. Krueger

“In his interim role, Ken will be focused on executing the company’s efforts to improve financial performance and executing the spin off of the Foodservice business, as well as implementing the restructuring initiatives we announced today. Our commitment to delivering superior quality, innovative products and unmatched customer support is unwavering as we further extend our leadership in the marketplace.”

“On behalf of the board of directors, I want to thank Glen for his efforts and contributions to Manitowoc over the last 24 years. We wish him well in his future endeavours.”

Krueger has been director of the company since 2004, including four years as audit committee chairman. His last executive position was as chief operating officer of mining equipment manufacturer, Bucyrus International before retiring in 2009. From 2000 to 2005 he served as chief financial officer at A.O. Smith, a water technology company, and before that Rockwell Automation, which he joined in 1983.