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NORWALK, Conn. - Terex Corporation (NYSE:TEX), the $3.37 billion industrial equipment manufacturer, announced Wednesday the appointment of Srikanth Padmanabhan to its Board of Directors, effective December 1, 2025. According to InvestingPro data, Terex maintains a "GOOD" financial health score, with its stock trading at $51.30.
Padmanabhan recently retired from Cummins, Inc., where he served as Executive Vice President and President of Operations. During his 34-year tenure at the global power solutions company, he held several leadership positions including President of the Engine Business and various global roles across the Power Generation, Components, and Engine segments. The appointment comes as Terex has shown strong momentum, with InvestingPro data showing a remarkable 35.73% price return over the past six months.
"We look forward to Srikanth’s valuable insights and perspectives, which will complement the experience of our current board," said David A. Sachs, Terex Non-Executive Chairman, in a press release statement.
Padmanabhan holds a bachelor’s degree in Mechanical Engineering from the National Institute of Technology in Trichy, India, and a PhD in Mechanical Engineering from Iowa State University. He also completed the Advanced Management Program at Harvard Business School.
Currently, Padmanabhan serves on the Board of Directors of Leggett & Platt Incorporated.
Terex Corporation manufactures industrial equipment for materials processing, waste and recycling solutions, mobile elevating work platforms, and equipment for the electric utility industry.
In other recent news, Terex Corporation reported its earnings for the second quarter of 2025, surpassing analyst expectations. The company achieved an earnings per share of $1.49, which exceeded the forecasted $1.45. Additionally, Terex’s revenue reached $1.5 billion, surpassing the anticipated $1.44 billion. These positive financial results were well-received by investors. In a separate development, Terex has completed a re-pricing of its term loan. This adjustment is expected to reduce the company’s annual cash interest costs by approximately $3 million. The new term loan rate is set at S+175 basis points, marking a 25 basis point improvement from the previous rate. These recent developments highlight Terex’s financial performance and strategic financial management.
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