The board of directors of Kennametal appointed board member Ronald M. DeFeo as the company’s president and CEO, effective immediately. DeFeo replaces Donald Nolan, who has left the company to pursue other interests after serving as president and CEO since 2014.

“We have determined a change in leadership is necessary and are pleased that Ron will step into this role,” said Lawrence W. Stranghoener, Kennametal chairman of the board of directors. “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. We appreciate Don Nolan’s service. He was a necessary change agent through a period of significant turmoil and uncertainty.”

A Kennametal board member since 2001, DeFeo served as the chairman of the board and CEO of Terex from March 1998 and March 1995, respectively, until his retirement from the company at the end of 2015. He joined Terex in 1992.

“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. I am confident in what we can accomplish together.”

Before joining Terex, DeFeo was a senior vice president of J.I. Case Company, the former Tenneco farm and construction equipment division and also served as a managing director of Case Construction Equipment throughout Europe. DeFeo began his career in 1974 at Procter & Gamble.

Kennametal is a provider of tools and machinery, including machine tools, mining equipment and generating equipment.