PEORIA, ILL., June 16,2017 /PRNewswire/ --
PEORIA, Ill., June 15, 2017 -- 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.
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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.
CONTACT: Rachel Potts, Global
Government & Corporate Affairs, 309-675-6892, 309-573-3444,
Potts_Rachel_A@cat.com
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