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Saturday, July 20, 2019

Caterpillar Inc News

Scott Phillips. Photo: Cargotec

Scott Phillips Appointed Hiab President

Scott Phillips has been appointed President of Hiab crane manufacturing division of Cargotec group as of 1 October 2018. He will be a member of the Cargotec Executive Board and report to CEO Mika Vehviläinen. Scott Phillips joins Cargotec from General Electric where he holds the position of Vice President and CEO Mining. Prior to that, he has during his 28 years' career held various global leadership positions in the construction and mining industries, working for Sandvik and Caterpillar Inc., among others. "I warmly welcome Scott to Cargotec and Hiab.

Redzic Joins Caterpillar as Digital Enabled Solutions VP

The board of directors of Caterpillar Inc. has appointed Ogi Redzic as a vice president to lead the company’s Digital Enabled Solutions Division (DESD), effective July 30, 2018. He will be based in Caterpillar's Chicago office and report to Group President of Customer & Dealer Support Bob De Lange.DESD is comprised of the company's data analytics group, the enterprise data hub, equipment management tools, Cat Connect technologies and customer experience portals.Redzic takes over for Caterpillar Vice President Julie Lagacy, who has led DESD on an interim basis.

Andrew Bonfield (Photo: Caterpillar Inc.)

Caterpillar Names Bonfield CFO

Caterpillar Inc. announced today its board of directors has appointed Andrew Bonfield as chief financial officer (CFO) effective September 1, 2018. Bonfield will succeed Brad Halverson, whose retirement became effective May 4, 2018.Bonfield brings more than three decades of financial expertise to the role, most recently serving as Group CFO and board member of National Grid plc, a British multinational electricity and gas utility company.Prior to Bonfield's eight years at National Grid, he was CFO at British confectionary company Cadbury plc.

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Caterpillar mulls Global Headquarters in Chicago

Caterpillar Inc. announced today it will locate a limited group of senior executives and support functions in the Chicago area later this year and reaffirmed the ongoing importance of its presence in Peoria and Central Illinois. “Caterpillar’s Board of Directors has been discussing the benefits of a more accessible, strategic location for some time,” said Caterpillar CEO Jim Umpleby. “Since 2012, about two-thirds of Caterpillar’s sales and revenues have come from outside the United States. “We value our deep roots in Central Illinois, and Peoria will continue to be our hometown.

Tom Pellette is appointed Caterpillar Inc.'s group president of Energy & Transportation. Photo Caterpillar

Executive Changes at Caterpillar

Following the previous announcement that Jim Umpleby will become Caterpillar’s Chief Executive Officer on January 1, 2017, Caterpillar Inc. announced today additional changes in its executive ranks. The company’s Board of Directors has appointed current Construction Industries Group President Tom Pellette, 53, group president of Energy & Transportation, the position previously held by Umpleby. Replacing Pellette, the Board has appointed Bob De Lange, 47, group president of Construction Industries. De Lange is currently vice president of the Excavation Division.

Caterpillar CEO to Retire, Successor a Company Veteran

Caterpillar Inc insider Jim Umpleby will become chief executive of the heavy equipment maker on Jan. 1, faced with the challenge of reversing a multiyear sales decline triggered by the global commodities slump. He replaces Doug Oberhelman, who will retire as CEO on Dec. 31 but stay on as executive board chairman until March 31, the company said on Monday. Caterpillar shares were down about 0.58 percent to $87.20. Under Oberhelman the company recorded record high revenue in 2012, two years after he became CEO.

Caterpillar Vice President Denise Johnson Elected Group President Effective April 1, 2016. Photo Caterpillar

Johnson Elected Group President, Caterpillar

Caterpillar Inc. announced today that the company’s Board of Directors has elected Denise Johnson, currently vice president with responsibility for the Material Handling & Underground Division, as group president of Resources Industries. The appointment follows the recently announced retirement of Group President Ed Rapp. “Denise leads one of the largest and most complex businesses in the company; her division makes products primarily for the mining, waste and construction industries and employs about 8,000 people in 14 locations spanning four continents.

Tom Frake, vice president with responsibility for the Marine & Petroleum Power Division, will soon lead the Electric Power, Marine and O&G Division. (Photo: Caterpillar)

Caterpillar: Further Division Consolidation

Caterpillar Inc. will combine two divisions dealing with power and energy, adding more detail to a restructuring announced last year, and plans to complete this by June 2016, the company said on Wednesday. Caterpillar announced a number of personnel and consolidations, as the company plows forward in an increasingly challenging energy market. Steve Niehaus, currently vice president with responsibility for the Electric Power Division (EPD), is retiring, and in the wake of Niehaus’ retirement…

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Caterpillar Forms New Analytics & Innovation Division

To better capitalize on the growing importance and excitement of data analytics and to drive innovation to support customers, Caterpillar Inc. today announced the formation of a new division, Analytics & Innovation (AI), which will be led by Caterpillar Vice President Greg Folley. The division will bring together the people and resources that will foster a culture with innovation at the core, form a broad and connected analytics ecosystem and manage strategic third party relationships with providers like Chicago…

Photo courtesy of Caterpillar Marine

Caterpillar Acquires ESRG Technologies Group

Caterpillar Marine has announced  it has completed the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics leader in the marine industry. The acquisition includes ESRG’s comprehensive software suite for the remote monitoring and diagnostics of more than 65 on-board systems as well as the expertise to provide meaningful recommendations to ship owners to help increase efficiency, reduce downtime on their vessels and assist shipyards in reducing warranty expenses.

Photo: Caterpillar

Caterpillar Acquires ESRG Technologies

Caterpillar Marine has completed the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics company in the marine industry. The acquisition includes ESRG’s software suite for the remote monitoring and diagnostics of more than 65 on-board systems as well as the expertise to provide meaningful recommendations to ship owners to help increase efficiency, reduce downtime on their vessels and assist shipyards in reducing warranty expenses. Headquartered in Virginia Beach…

Doug Oberhelman, Caterpillar Chairman and CEO Photo credit Caterpillar

Caterpillar Maintains Dividend Rate

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016. "Caterpillar’s balance sheet remains strong, and I'm pleased to announce we're maintaining our dividend despite continuing difficult marketplace conditions. We've taken actions to further strengthen our competitive position…

Doug Oberhelman (Photo: Caterpillar)

Caterpillar CEO Joins ExxonMobil Board

Exxon Mobil Corporation announced today that its shareholders have elected Doug Oberhelman to its board of directors. Oberhelman is chairman of the board of directors and chief executive officer of Caterpillar Inc. With the election of Oberhelman, the ExxonMobil board stands at 12 directors, 11 of whom are non-employee directors. Oberhelman was named CEO and chairman of Caterpillar’s board in 2010. Prior to that, he served as group president of various divisions within Caterpillar from 2002 to 2010, and was elected a Caterpillar vice president and chief financial officer in 1995.

Doug Oberhelman, Caterpillar Chairman and CEO Photo credit Caterpillar

Caterpillar Maintains Dividend Rate

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable August 20, 2016, to stockholders of record at the close of business on July 20, 2016. “Our balance sheet and operational performance are strong, even after several years of challenging market conditions. We are maintaining an attractive dividend for our stockholders and positioning the company for growth once our markets rebound," said Caterpillar Chairman and CEO Doug Oberhelman.

Doug Oberhelman, Caterpillar Chairman and CEO

Caterpillar Again Named to Dow Jones Sustainability Indices

Caterpillar Inc. has been named to the 2015 Dow Jones Sustainability Indices (DJSI), recognizing Caterpillar as a sustainability leader in the Industrial Engineering sector. This marks the 16th time Caterpillar has been included in the DJSI list. The annual DJSI process involves a thorough analysis of corporate economic, environmental and social performance factors, assessing issues such as innovation management, supply chain management, climate strategy, product stewardship, labor practices and health and safety.

Caterpillar May Cut up to 10,000 Jobs

Caterpillar Inc said it could cut up to 10,000 jobs through 2018 as part of its restructuring and cost reduction plans to save up to $1.5 billion annually. The company said on Thursday that it would cut 4,000-5,000 jobs by the end of 2016, most of them in 2015. Caterpillar had 114,233 employees as of Dec. 31, according to Thomson Reuters data. (Reporting by Ankit Ajmera in Bengaluru)

Caterpillar Chief Human Resources Officer Kim Hauer to Pursue Outside Opportunity Photo Caterpillar

Caterpillar Vice President Hauer Resigns

After nearly 20 years with Caterpillar Inc. (NYSE: CAT), Kim Hauer, vice president with responsibility for the Human Services Division (HSD) and Chief Human Resources Officer (CHRO), has elected to leave the company. Hauer has accepted a position as Senior Vice President Global Human Resources with privately held SC Johnson, a 130-year-old company that generates $10 billion in sales annually, employs 13,000 people globally and sells products in virtually every country around the world. In order to ensure a smooth transition, Hauer will remain at Caterpillar until November 1.

Group President of Energy & Transportation Jim Umpleby

Presentations by Caterpillar at Baird Conference

Caterpillar Inc. Group President of Energy & Transportation Jim Umpleby and Director of Investor Relations Rich Moore will speak at the Baird 2015 Industrial Conference on Wednesday, November 11. They are scheduled to speak at 11 a.m. Central Time. The presentation materials will be available at http://www.caterpillar.com/en/investors/events-and-presentations.html. The event will be webcast in real-time and available to the public at http://wsw.com/webcast/baird44/cat. Listeners…

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Caterpillar to Participate in Citi 2014 Industrials Conference

Caterpillar Inc. Vice President with responsibility for Strategic Services Mike DeWalt and Director of Investor Relations Rich Moore will speak at the Citi 2014 Industrials Conference on Tuesday, September 23. scheduled to speak at 2:45 p.m. Eastern Time. The presentation materials will be available at caterpillar.com/presentations. The event will be webcast in real-time and available to the public at http://www.veracast.com/webcasts/citigroup/industrials2014/09210239792.cfm.

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Caterpillar Invests $2.5 Million to End Extreme Poverty

Continuing its efforts to alleviate poverty worldwide, Caterpillar Inc. and the Caterpillar Foundation are making a $2.5 million investment in The Global Poverty Project. The investment will support growing the Global Citizen grassroots movement around the world to end extreme poverty by 2030. “When we can put people on the path to prosperity, it gives them opportunities for education, jobs and ultimately economic growth,” said Caterpillar Foundation President Michele Sullivan.

Caterpillar

Caterpillar Sponsors 2014 High Horsepower Summit

Caterpillar Inc. now underway in New Orleans, Louisiana. The event is North America’s leading conference on the use of natural gas to fuel high horsepower operations. As an industry leader in the design and manufacture of dual-fuel and natural gas engines, Caterpillar plans to highlight its commitment to delivering the highest customer value for energy and power systems operations, as well as rail, marine and mining applications. “We’re proud of where our natural gas heritage…

Caterpillar Maintains Dividend Rate

The Board of Directors of Caterpillar Inc. voted today to maintain the quarterly cash dividend of seventy cents ($0.70) per share of common stock, payable November 20, 2014, to stockholders of record at the close of business on October 20. "I am pleased to announce that we are maintaining Caterpillar’s dividend,” said Caterpillar Chairman and CEO Doug Oberhelman. “Caterpillar’s strong dividend history is the result of our continued financial strength and strong operational performance.

New Vice Presidents at Caterpillar

Following the previous announcement regarding two group presidents’ retirements and new responsibilities for another group president, Caterpillar Inc. today announced related changes at the vice president level, including the retirement of Vice President Steve Gosselin. After more than 35 years of outstanding service with the company, Steve Gosselin, 56, vice president with responsibility for the Customer Services Support Division, has elected to retire. Gosselin’s retirement will be effective February 1, 2015.

Vice Presidents Rejig at Caterpillar Inc

Following the previous announcement regarding two group presidents’ retirements and new responsibilities for another group president, Caterpillar Inc. (NYSE: CAT) today announced related changes at the vice president level, including the retirement of Vice President Steve Gosselin. After more than 35 years of outstanding service with the company, Steve Gosselin, 56, vice president with responsibility for the Customer Services Support Division, has elected to retire. Gosselin’s retirement will be effective February 1, 2015.

Caterpillar's Rich Moore to Speak at Goldman Sachs 2014

Caterpillar Inc. Director of Investor Relations Rich Moore will speak at the Goldman Sachs 2014 Industrials Conference on Thursday, November 13. He is scheduled to speak at 11:20 a.m. Eastern Time. No presentation materials will be available. The event will be webcast in real-time and available to the public at http://cc.talkpoint.com/gold006/111214a_ae/?entity=27_YBH7YN4. Listeners should go to the website at least 30 minutes before the live event to register and to download and install any necessary audio software.

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Caterpillar Rejigs Top Deck

Caterpillar Inc. * Doug Hoerr has been appointed as vice president with responsibility for the Strategic Services Division. Caterpillar’s Board of Directors has appointed Julie Lagacy, a 26-year veteran of the company and currently vice president with responsibility for the Finance Services Division (FSD), as Chief Information Officer (CIO) and vice president with responsibility for the Global Information Services Division (GIS). In addition to leading FSD, earlier this year Lagacy assumed leadership of GIS following the departure of the former Chief Information Officer.