Caterpillar Announces Several Officer Moves

Caterpillar (CAT) announced several officer moves including changes in responsibilities for three Executive Office members, new roles for two current vice presidents and the appointment of two new vice presidents. All changes are effective March 1. Tom Pellette, current group president of Caterpillar's Construction Industries segment, has elected to return to San Diego, California, to become senior vice president of Caterpillar and president of Solar Turbines, effective March 1, 2019. Ramin Younessi, currently group president of Energy & Transportation, will transition to lead Construction Industries.

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Billy Ainsworth, current senior vice president of the Caterpillar Rail Division and CEO of Progress Rail, will now become the group president of the Energy & Transportation segment. To better serve our customers, Caterpillar is separating the current Global Power Systems Divisions into two new industry-focused divisions: Oil, Gas and Marine Division and Electric Power Division. These two new divisions will be led by the following Caterpillar vice presidents. Joe Creed, current vice president of Caterpillar's Finance Services Division, will become the new vice president of the Oil, Gas and Marine Division. Pablo Koziner, current vice president of Caterpillar and President of Solar Turbines, will become the new vice president of the Electric Power Division.

Additionally, Caterpillar's board of directors has appointed Marty Haycraft to succeed Ainsworth as vice president of Caterpillar's Rail Division and CEO of Progress Rail. Haycraft is currently the president of Progress Rail's global operations where his primary responsibilities include overseeing the company's rolling stock and infrastructure businesses. The company's board of directors has also appointed Kyle Epley as vice president of the Finance Services Division. He currently serves as corporate controller where he has responsibility for business analysis, competitive analysis, economics, strategic planning, and operating & execution model governance.

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