February 17, 2016
FOR IMMEDIATE RELEASE
Caterpillar Announces New Responsibilities for Officers
PEORIA, Ill. – Caterpillar Inc. (NYSE: CAT) today announced the following changes:
· Doug Hoerr, currently vice president with responsibility for the Wear, Components & Aftermarket Division (WC&AD), will become vice president with responsibility for the Material Handling & Underground Division (MH&U). He replaces Denise Johnson who was recently named group president with responsibility for Resource Industries.
· Greg Folley, vice president with responsibility for the Sustainable Solutions Division (SSD), will also assume responsibility for Hoerr’s current division.
· The remanufacturing business, currently overseen by Folley, will transfer to Tana Utley, vice president with responsibility for the Large Power Systems Division (LPSD).
“Our strong, capable leadership team will absorb these responsibilities and continue our commitment to customers. In this business environment, we are streamlining at all levels, including senior management,” said Caterpillar Chairman & CEO Doug Oberhelman. “I look forward to Doug Hoerr’s leadership of MH&U. His strong financial background, customer focus and operations experience are a solid foundation for heading one of Caterpillar’s largest divisions. The added responsibility for Greg, including the design and manufacturing of components and aftermarket distribution, is a good fit with his skill, broad experience and current businesses including Cat Work Tools, Cat OEM Solutions, Safety Services and Defense and Federal Products. Tana’s deep expertise and decades of leadership make her an ideal fit for the Reman business, and it is also a natural extension of her engine responsibilities since much of the remanufacturing business is related to power systems.”
The changes are effective March 1, 2016. For bios of each of the officers, visit http://www.caterpillar.com.
For 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 2015 sales and revenues of $47.011 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.