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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
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.
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: