During the event, held at its Smithfield, Sydney headquarters, outgoing CEO and managing director Ron Tennant handed a symbolic silver baton to Stojan after reflecting on his 25 years leading the firm.
Commenting on the future direction of Demag Cranes and Components in Australia, Stojan said: "The major challenge facing us is to increase our market share in the mining industry. This is the one issue we really have to focus on.
"We started focusing on the mining industry a few years ago and this has become probably our biggest challenge. We are thinking about how to come closer to major mining centres."
