DEERFIELD, Ill., April 12, 2018 /PRNewswire/ -- Following the
announcement that Group President Rob
Charter has elected to retire, Caterpillar Inc. (NYSE: CAT)
announced today changes in responsibilities for two group
presidents and the appointment of a new group president. All
changes are effective June 1,
2018.
Bob De Lange to Become Group
President of Customer & Dealer
Support
Caterpillar Group President
Bob De Lange, current Construction
Industries group president, will oversee Customer & Dealer
Support, replacing Charter.
"During his 25-year career with Caterpillar, Bob has delivered
excellent results in leadership positions across Europe, the United
States and Asia," said
Caterpillar CEO Jim Umpleby.
"Throughout his career, Bob has built strong relationships with our
dealers while holding a range of product and marketing positions.
His diverse experience working with our dealer network makes him
ideally suited to lead the Customer & Dealer Support group for
Caterpillar."
Tom Pellette to Become Group
President of Construction Industries
Caterpillar
Group President Tom Pellette,
current Energy & Transportation group president, will now lead
Construction Industries, replacing De Lange.
"Tom delivered strong results during a challenging time for the
industry when previously leading our Construction Industries
organization, and with Bob De
Lange's move, Tom is best positioned to resume the
leadership role for Construction Industries," Umpleby said.
Ramin Younessi
Appointed Group President of Energy &
Transportation
Caterpillar's board of directors has
appointed Ramin Younessi a
Caterpillar group president. Younessi will lead Caterpillar's
Energy & Transportation group, replacing Pellette. Younessi is
currently vice president of Caterpillar's Industrial Power Systems
Division (IPSD).
"Ramin's extensive leadership experience prior to joining
Caterpillar, combined with his outstanding leadership of IPSD for
the last five years, make him a valuable addition to the Executive
Office," Umpleby said.
Younessi joined Caterpillar in 2013, bringing more than 25 years
of outside senior leadership experience. Previous executive
responsibility included product development, quality, purchasing
and product planning with Navistar, as well as product development
and planning for Daimler AG's commercial vehicle division. Younessi
has a bachelor's degree in electrical engineering from the
Rochester Institute of Technology and
master's degrees from Syracuse
University and the University of Maryland.
Younessi's replacement will be named soon.
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 2017 sales and revenues of $45.462 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 primary 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 including the impact of U.S. tax reform; (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.
![Tom Pellette, current Caterpillar Energy & Transportation group president, will lead Construction Industries, replacing Bob De Lange effective June 1, 2018. Tom Pellette, current Caterpillar Energy & Transportation group president, will lead Construction Industries, replacing Bob De Lange effective June 1, 2018.](https://mma.prnewswire.com/media/676641/Tom_Pellette_Caterpillar.jpg)
![Ramin Younessi, current Caterpillar vice president of Industrial Power Systems Division, has been appointed group president of Energy & Transportation, replacing Tom Pellette effective June 1, 2018. Ramin Younessi, current Caterpillar vice president of Industrial Power Systems Division, has been appointed group president of Energy & Transportation, replacing Tom Pellette effective June 1, 2018.](https://mma.prnewswire.com/media/676640/Ramin_Younessi_Caterpillar.jpg)
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SOURCE Caterpillar Inc.