PEORIA,
Ill., June 15, 2017
/PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today
announced three vice presidents, Paolo
Fellin, Greg Folley and
George Taylor, have elected to retire. In
connection with these retirements and the company's
previously announced plan to review and update its
strategy, Caterpillar
is also announcing organizational changes,
appointing two new vice presidents and launching a search for a
third.
Paolo Fellin Retirement
After 37
years of service to the company, Paolo Fellin, Caterpillar vice president of the
Global Construction & Infrastructure (GCI) Division, has
elected to retire.
"Over his long career, Paolo has built an
unrivaled reputation for his passion and devotion to finding
solutions for our customers," said Jim
Umpleby, Caterpillar CEO. "His leadership has played a
critical role as Caterpillar has improved its market position for
worldwide machine sales in the last several
years."
Fellin joined Caterpillar in 1980 in Geneva, Switzerland. Over the
next several years, Fellin held a series of sales and marketing
positions throughout Europe,
Africa & Middle East (EAME). In 1992,
Fellin moved to products and operations becoming product manager
for small excavators (France). In
1996, he was named product manager for wheel loaders (Belgium). In 2003, Fellin was
appointed industry manager for Caterpillar's North American
Commercial Division (NACD). In 2004, the Caterpillar board of
directors named him vice president of EAME, including CIS,
Marketing Division, and in 2009, he was named vice president of
EAME Distribution Services. In 2013, Fellin became vice president
for GCI. His retirement is effective August
1, 2017.
Greg Folley Retirement
After 22
years of service to the company, and 11 years of practicing law
prior to joining Caterpillar, Greg
Folley, Caterpillar vice president of the Industry
Solutions, Components & Distribution Division (ISCD), has
elected to retire.
"Greg began his career with Caterpillar in the Human
Services Division, and while he's held a range of leadership and
executive positions focused on remanufacturing, component
production and distribution during his career, his focus on people
along with his positive attitude and leadership style are the
hallmarks of his career," Umpleby said.
Following an 11-year career outside of Caterpillar, Folley
joined Caterpillar in 1995, and held numerous
positions in the Human Services Division, including senior labor
relations consultant, human resources manager, corporate labor
relations manager, U.K. HR Shared Services director and director of
Compensation + Benefits. In 2008, the Caterpillar board of
directors named Folley vice president of the Core Components
Division. He then served as the chief HR officer from 2009-11, and
as vice president of the Remanufacturing, Components & Work
Tools Division from 2011-15. In 2016, Folley was named vice
president of ISCD. His retirement is effective August 1, 2017.
George Taylor Retirement
After 19
years of service to the company, and with more than 15 years of
business experience prior to joining Caterpillar, George Taylor, vice president of the Marketing
& Digital Division, has elected to retire.
"George has played a significant role in leading
Caterpillar's initiatives utilizing data analytics,
innovation, digital channels and techniques to unlock competitive
advantages for our customers," Umpleby said. "George
has laid a solid groundwork in this area as Caterpillar continues
to develop digital solutions and products for our
customers."
Taylor joined Caterpillar in 1998 as a strategic business
planning services manager. Taylor held numerous marketing, product
support and general management positions before he was named the
director and general manager of the global on-highway truck group
in 2006. In 2015, the Caterpillar board of directors appointed
Taylor as vice president of the Customer Services Support Division,
and, later, as vice president of the Marketing & Digital
Division.
Before joining Caterpillar, Taylor had extensive external
experience with IBM. He began in 1984 as a systems engineer and
held several managerial positions before becoming a client
executive in 1994. Taylor's retirement is effective
August 1, 2017.
New Divisions Created in Connection to Updated
Corporate Strategy
Following the above
announced retirements, and taking into account the company's
previously announced plan to review and update its strategy with
the establishment of a Strategic Planning Committee (SPC),
Caterpillar is also announcing organizational changes that will
result in the creation of two new divisions. The company is forming
these new divisions to drive greater efficiencies and effectiveness
in support of its customers.
Chris Snodgrass Appointed Vice President of Product
Support & Logistics Division
Caterpillar's
board of directors has appointed Chris
Snodgrass, currently general manager for Caterpillar's
Industrial Power Systems Division (IPSD), to the position of vice
president of the newly created Product Support & Logistics
Division (PSLD). This division will combine groups currently
located in other Caterpillar divisions to drive collaboration and
implement strategic initiatives under the leadership of Snodgrass.
PSLD will include design and manufacturing of wear and maintenance
component products, as well as support of prime product and parts
distribution, inbound and outbound logistics, warehousing
functions, and packaging and container
management.
Snodgrass joined Caterpillar in 2013 following a
successful 20-year career that included senior and executive
leadership positions with commercial vehicle and industrial
components manufacturer Meritor, and with Daimler AG, including
roles in the Mercedes Benz truck division in Europe, Freightliner Trucks in North America, and with engine manufacturer
Detroit Diesel Corporation.
"Since joining Caterpillar, Chris has quickly demonstrated
an ability to deliver results; as general manager for IPSD,
he's played a significant role reducing material costs and driven
substantial process improvements and results for the division's
sales and marketing functions," Umpleby said. "His significant
outside experience and perspective combined with his sharp focus on
customers make him ideally suited for this
role."
Snodgrass has a bachelor's degree in management and
organizational leadership from Concordia
University. He will report to Rob
Charter, group president of Customer & Dealer Support.
Snodgrass will assume his new duties effective July 1, 2017.
Caterpillar Announces New Digital Enabled Solutions
Division and Search for a Digital Vice President
The newly created Digital Enabled Solutions Division will
bring together the company's data analytics group, the enterprise
data hub, equipment management tools, Cat® Connect
technologies and customer experience portals.
"We recognize the need to bring these groups into an
organization that will bring enhanced focus and strategic alignment
to the existing and yet-to-be developed digital enablers for our
products and customers," Umpleby said.
Caterpillar will immediately begin an external search for
an executive to lead the new division, which will report to
Charter. In addition, as part of the reorganization, Caterpillar's
marketing and brand organization will become part of the existing
Global Aftermarket Solutions Division led by Vice President
Nigel Lewis.
Damien Giraud Appointed Vice President of Global
Construction & Infrastructure Division
Caterpillar's board of directors has appointed Damien Giraud, currently worldwide product
manager for Caterpillar's large excavators, as the vice president
of GCI.
Giraud joined Caterpillar in 1998, following a seven-year
career with Colas Group, a French civil engineering and
construction firm. During his nearly 20 years with Caterpillar,
Giraud has held a number of marketing and product management roles
with an increasing level of responsibility. A native
of France who speaks four
languages, Giraud has worked in Europe, Africa, Asia
and North America.
"Damien brings an exceptional focus on our customers to
this position," Umpleby said. "That customer focus combined with
his global work experience, deep industry knowledge and his strong
and transparent communication skills make him ideally suited for
this position."
Giraud has a bachelor's degree in engineering from
Ecole Des Mines, Saint Etienne,
France and a master's degree from
the International Institute for Management Development in Lausanne,
Switzerland. Giraud will be
based in Geneva, Switzerland and
will assume his new duties effective August
1, 2017.
About Caterpillar
For more than 90 years, Caterpillar Inc. has been making
sustainable progress possible and driving positive change on every
continent. Customers turn to Caterpillar to help them develop
infrastructure, energy and natural resource assets. With 2016 sales
and revenues of $38.537 billion,
Caterpillar is the world's leading manufacturer of construction and
mining equipment, diesel and natural gas engines, industrial gas
turbines and diesel-electric locomotives. The company principally
operates through its three product segments - Construction
Industries, Resource Industries and Energy & Transportation -
and also provides financing and related services through its
Financial Products segment. For more information, visit
caterpillar.com. To connect with us on social media, visit
caterpillar.com/social-media.
Forward-looking Statements
Certain
statements in this press release relate to future events and
expectations and are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Words such
as "believe," "estimate," "will be," "will," "would," "expect,"
"anticipate," "plan," "project," "intend," "could," "should" or
other similar words or expressions often identify forward-looking
statements. All statements other than statements of historical fact
are forward-looking statements, including, without limitation,
statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance
and speak only as of the date they are made, and we do not
undertake to update our forward-looking
statements.
Caterpillar's actual results may differ materially from
those described or implied in our forward-looking statements based
on a number of factors, including, but not limited to: (i) global
and regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) our ability to develop, produce and market quality products
that meet our customers' needs; (vi) the impact of the highly
competitive environment in which we operate on our sales and
pricing; (vii) information technology security threats and computer
crime; (viii) additional restructuring costs or a failure to
realize anticipated savings or benefits from past or future cost
reduction actions; (ix) failure to realize all of the anticipated
benefits from initiatives to increase our productivity, efficiency
and cash flow and to reduce costs; (x) inventory management
decisions and sourcing practices of our dealers and our OEM
customers; (xi) a failure to realize, or a delay in realizing, all
of the anticipated benefits of our acquisitions, joint ventures or
divestitures; (xii) union disputes or other employee relations
issues; (xiii) adverse effects of unexpected events including
natural disasters; (xiv) disruptions or volatility in global
financial markets limiting our sources of liquidity or the
liquidity of our customers, dealers and suppliers;
(xv) failure to maintain our credit ratings and potential resulting
increases to our cost of borrowing and adverse effects on our cost
of funds, liquidity, competitive position and access to capital
markets; (xvi) our Financial Products segment's risks associated
with the financial services industry; (xvii) changes in interest
rates or market liquidity conditions; (xviii) an increase in
delinquencies, repossessions or net losses of Cat Financial's
customers; (xix) currency fluctuations; (xx) our or Cat Financial's
compliance with financial and other restrictive covenants in debt
agreements; (xxi) increased pension plan funding obligations;
(xxii) alleged or actual violations of trade or anti-corruption
laws and regulations; (xxiii) international trade policies and
their impact on demand for our products and our competitive
position; (xxiv) additional tax expense or exposure; (xxv)
significant legal proceedings, claims, lawsuits or government
investigations; (xxvi) new regulations or changes in financial
services regulations; (xxvii) compliance with environmental laws
and regulations; and (xxviii) other factors described in more
detail in Caterpillar's Forms 10-Q, 10-K and other filings with the
Securities and Exchange Commission.
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SOURCE Caterpillar Inc.