Terex Names Ellis President Of Construction Unit

WESTPORT, Conn. (AP) — Heavy equipment maker Terex Corp. said Thursday George Ellis has been named president of its construction unit, effective immediately.

Ellis, 49, previously was senior vice president of Terex Business System and led the company's road-building, manufacturing services and health safety and environment units.

A company spokesman said Tom Riordan, Terex's president and chief operating officer, had been overseeing the construction business since February, when the previous president of the unit, Robert Isaman, left the company.

Shares of Terex rose 77 cents, or 3.9 percent, to $20.71 in afternoon trading amid a broad market rally.

(This version CORRECTS spelling of former unit president to Isaman)