This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Caterpillar Announces Officer Changes





PEORIA, Ill., Feb. 10, 2012 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today that Richard Case, vice president with responsibility for the Marine & Petroleum Power Division, has elected to resign from the company to pursue other opportunities. Case's departure from Caterpillar will be effective May 1, 2012. 

"I want to thank Richard for his valued contributions to Caterpillar, where the majority of his fourteen-year career was spent in our engine business," said Gerard Vittecoq, Caterpillar group president with responsibility for Energy & Power Systems. "We wish Richard well in his new endeavors."

Caterpillar's board of directors has appointed Tom Frake to replace Case as vice president, Marine & Petroleum Power Division. Frake's appointment is effective April 1, 2012. Frake began his career at Caterpillar in 1986, and has held a series of positions with increasing responsibility at Caterpillar locations in North America, Asia and South America. Frake is currently based in Singapore, where he is the worldwide product manager for hydraulic excavators. He will relocate to Hamburg, Germany, in his new role leading the Marine & Petroleum Power Division.  

"Tom has the kind of deep expertise and wide ranging global experience in marketing and dealer and product development that, along with his proven track record, makes him an ideal candidate to lead our growing marine and petroleum engine business," Vittecoq said.

Frake joined Caterpillar in 1986 in the Marketing Training Program.  In 1988, he moved to a marketing position in Hong Kong and then advanced into a series of other marketing positions in Asia over the next seven years. In 1995, he relocated to Singapore after being named a manager for the Hydraulic Excavator Division. Frake was appointed District Manager in Santiago, Chile, in 1999. In the early and mid 2000s, Frake held positions as a corporate accounts manager for the North American Commercial Division and as a product manager in the Track-Type Tractors Division. He has been the worldwide product manager for hydraulic excavators since 2007. Frake has a B.S. in agricultural engineering from Purdue University and completed a Harvard University Advanced Management Program in 2004. 

About Caterpillar:

For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 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 also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs