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Caterpillar Announces Executive Office Retirements And Appointments

Rapp joined Caterpillar as a pricing analyst in 1979. Over the next several years, he held positions with increasing responsibility related to pricing, production scheduling, marketing, dealer development, manufacturing and product development. In the 1990s, he held positions as a district manager in San Francisco, the area manager in Johannesburg, South Africa, and then held several senior positions in Geneva, Switzerland, before being named a vice president with responsibility for EAME Marketing in 2000.

Rapp has a bachelor's degree in finance from the University of Missouri-Columbia and is a graduate of the University of Illinois Executive Development program.

He is a member of the board of directors of FMGlobal and Junior Achievement USA. Rapp is also a member of the University of Missouri College of Business Strategic Development Board.

Halverson Appointed CFO and Group President Caterpillar's Board of Directors has elected Brad Halverson, currently a Caterpillar vice president with responsibility for Finance Services Division, as chief financial officer (CFO) and group president of Corporate Services.

"During his 25 year career, Brad has built substantial deep expertise within our accounting and finance operations, working in positions of increasing responsibility in multiple business units in the United States and in Europe," Oberhelman said. "In addition, Brad has held a number of accounting and finance roles at the corporate level that have helped to drive standard work and process improvements across this critical service business for our company. He has played an important role in our most recent strategic planning initiatives, providing key leadership to develop our metrics and plan for delivering total shareholder return. Together, this deep business unit and corporate experience in the field gives him an ideal perspective and background for the CFO role within our executive office," Oberhelman added.

Halverson was named a vice president in 2010. He has had a variety of experiences of increasing responsibilities at Caterpillar. After auditing and tax experience with Price Waterhouse, he joined the company in 1988 as an accountant. In 1993, he moved to Geneva, Switzerland, as a strategy and planning consultant with Caterpillar Overseas S.A. He went on to become controller in Europe, responsible for Caterpillar's financial reporting in EAME and returned to the United States in 1996 to manage general accounting and financial systems. From 1998 until 2002, Halverson provided financial leadership as a business resources manager in Caterpillar's Engine Division and was named director of corporate business development before becoming corporate controller in December 2004.

Halverson graduated with a bachelor's degree in accounting in 1982, and earned an Executive MBA in 1996, both from the University of Illinois. He is a certified public accountant and member of the American Institute of CPAs. He serves on the OSF St. Francis Medical Center Community Advisory Board and is vice chairman of the Illinois Easter Seals Affiliate Board. Halverson's replacement will be named in the near future. Halverson will assume his new role effective January 1, 2013.

Umpleby Appointed Group President Caterpillar's Board of Directors has elected Jim Umpleby, currently vice president with responsibility for Solar Turbines, as a group president with responsibility for Caterpillar's Energy & Power Systems business.

"With more than 30 years of leadership experience with Solar Turbines and Caterpillar, Jim brings extensive knowledge and understanding of the global energy and power systems industry to our executive office," Oberhelman said. "Jim understands the highly complex and global nature of the customers we serve in the energy, rail and power industries. As the leader of our Solar Turbines business, he has demonstrated results in a global business, serving customers in the oil and gas and power generation industries. Jim's deep expertise in these industries and his demonstrated success as the vice president for Solar Turbines make him an ideal leader for our Energy & Power Systems group," Oberhelman said.

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