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Caterpillar Announces Retirements Of Long-Time Officers; Appointments And Changes In Responsibilities For Vice Presidents Will Drive Company Strategy

PEORIA, Ill., Aug. 20, 2013 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced that three long-time vice presidents, Steve Fisher, Steve Larson and Bill Rohner, have elected to retire. Choosing from a mix of veteran company leaders and executives with outside expertise and experience, the Board of Directors of the company has appointed four new vice presidents, and the company is also changing responsibilities for other vice presidents. These moves align with Caterpillar's strategy and will add to the depth of Caterpillar's executive leadership ranks.

Steve Fisher Retirement After more than 35 years with Caterpillar, Steve Fisher, vice president of the Large Power Systems & Growth Markets Division, has elected to retire. Fisher's retirement will be effective February 1, 2014.

" Steve Fisher's legacy at Caterpillar is the integral part he played in growing and diversifying our remanufacturing business, including his leadership in acquiring Progress Rail Services, which preceded the acquisition of EMD, placing Caterpillar in a unique position to serve the rail industry with a broad range of locomotives and services," said Jim Umpleby, Caterpillar group president with responsibility for Energy & Power Systems. "Steve also provided outstanding executive leadership as Caterpillar integrated Bucyrus International, the largest acquisition in Caterpillar's history."

Fisher joined Caterpillar in 1978 as an accounting trainee. He held numerous accounting and cost management positions, serving as a business resource manager and cost and business analysis services manager. He was instrumental in mergers and acquisitions activity and in the development of the company's internal strategic consulting business while in corporate accounting. He joined the remanufacturing products group as general manager in 2001. Fisher became a Caterpillar vice president in 2006. Fisher has a bachelor's degree in accounting from Bradley University and is a certified public accountant.  

Steve Larson Retirement After more than 34 years with Caterpillar, Steve Larson, vice president of the Parts Distribution & Diversified Products Division, has elected to retire. Larson's retirement will be effective February 1, 2014.

"Steve will be remembered for his thoughtful leadership within Caterpillar and his strong customer focus during a diverse 34-year career that included leadership positions in finance, as a product manager, a district and regional manager and finally for the last nine years as a senior executive and leader that helped to transform our logistics business," said Stu Levenick, Caterpillar group president with responsibility for Customer & Dealer Support. "Steve played a critical role in the successful divestiture of a majority interest in Caterpillar Logistics Services in 2012, and over the last several years, he has guided the build out, modernization and expansion of the Cat® parts distribution network including the opening of four new facilities in the United States, as well as new facilities in Australia, Dubai and Mexico."

Larson joined Caterpillar in 1979 and held a series of positions with growing responsibilities in the areas of accounting, finance and marketing. In 1995 he was named a product/marketing manager in North America Commercial Division, and later held positions as a district manager, product manager for large track-type tractors and regional manager. In 2003, he moved to Singapore to become a vice president of Caterpillar Financial Services Corporation. In 2007, the Caterpillar Board of Directors appointed Larson a vice president with responsibility for the Logistics Division. Larson holds a bachelor's degree in business and an MBA from Western Illinois University.

Bill Rohner Retirement After more than 41 years with Caterpillar, Bill Rohner, vice president of the Electric Power Division, has elected to retire. Rohner's retirement will be effective February 1, 2014.

"During his remarkable 41 year career with Caterpillar that included postings in Brazil, Japan and a variety of locations in the United States, Bill developed deep expertise in manufacturing and business operations, culminating in his appointment as the first Caterpillar vice president for the Electric Power Division," Umpleby said. "In 10 years leading our Electric Power Division, Bill has successfully grown the scope of this business while adjusting to the increasingly competitive environment and positioning the business to compete and win electric power customers in growth markets. Bill also played a critical role in the acquisition and integration of the MWM engine business into Caterpillar."

Rohner began his Caterpillar career in 1972 and held a number of manufacturing, accounting, business analysis and technical services positions with increasing levels of responsibility. In 1995, he became operations manager for the remanufacturing facility in Corinth, Miss. He moved to Japan in 1996 as managing director of Shin Caterpillar Mitsubishi, Ltd., returning to the United States in 1998 for leadership positions in the Track-Type Tractors Division and Transmission Business Unit. In 2000, he became managing director of Caterpillar Brasil Ltd., and in 2004, he was appointed vice president of the Electric Power Division. He holds a bachelor's degree in industrial engineering from Iowa State University and an executive MBA from the University of Illinois.

New Responsibilities for Vice Presidents Tana Utley, Steve Gosselin and Bill Finerty Tana Utley, currently vice president of the Industrial Power Systems & Growth Markets Division, will replace Steve Fisher as vice president, Large Power Systems & Growth Markets Division. Utley's move to the new position is effective October 1, 2013. In conjunction with this leadership change, Caterpillar is also announcing a realignment of parts of its reciprocating engine business to better align engine products with global customer requirements. As a result, the Large Power Systems & Growth Markets led by Utley will be accountable for all Caterpillar and Perkins brand engines above 18 liters.

Utley was first appointed a Caterpillar vice president in 2007, when she was named chief technology officer and vice president of the Technology & Solutions Division. Utley joined Caterpillar in 1986 as a junior engineer. Over the next 15 years, she held a variety of engineering and management positions with increasing responsibilities throughout the company. In 2004, Utley was named to lead the Electronic & Electrical Systems business unit in Caterpillar's Motion & Power Control Division. She also served as the director of Engine Design, Large Engine Products & Fuel Systems Division. Utley holds a bachelor's degree in mechanical engineering from Bradley University and a master's degree in management from the Massachusetts Institute of Technology, where she was a Sloan Fellow.

Concurrent with the announcement of Steve Larson's retirement, Caterpillar is announcing a strategic realignment of the Parts Distribution & Diversified Products Division and the Customer Services Support Division. As part of this realignment, Caterpillar's Parts Distribution business will be integrated into the Customer Services Support Division, which is led by Vice President Steve Gosselin. The Customer Services Support Division is focused on aggressively growing Caterpillar's parts and product support. The division develops and supports deployment of parts and service products, processes and programs for our dealers, enabling them to deliver unmatched product support. Including Caterpillar Parts Distribution this division will form a single global parts organization that will allow a seamless Caterpillar focus on supporting customer requirements for product support.

Since joining Caterpillar in 1979 as a parts and service sales trainee, Gosselin has held numerous positions in the product support, machine and engine businesses. In 1994, he was named area manager, based in London, responsible for the machinery business in the Northwest quadrant of Europe. From 1998 to 2000, Gosselin served as the North American Distribution Manager for the Engine Products Division. He was named Regional Manager for the North America Commercial Division (NACD) in 2000. In 2002, he was elected a vice president with responsibility for NACD with accountability for the company's North American dealer development and machine marketing. In 2006, he was named president of Solar Turbines Incorporated, and in 2010, he assumed his current role with the company.

Bill Finerty, currently vice president of Americas Distribution Services Division, will assume responsibilities for the newly realigned Diversified Products Division, which includes Caterpillar's global paving products, forestry products, defense and federal products, OEM Solutions group, Cat Tunneling, and the industrial and waste group. In addition, Caterpillar's on-highway truck group will move from the Customer Services Support Division to become part of the Diversified Products Division. The changes for the Diversified Products Division and the Customer Services Support Division will be effective October 1, 2013.  

Finerty joined Caterpillar in 1984 in the marketing training program as a sales development technician. He then held a series of positions in the United States and Europe with growing responsibilities in the areas of marketing, finance and mining. In 2005, he was named a regional manager for the Americas Distribution Services Division. He was appointed Caterpillar vice president with responsibility for the Americas Distribution Services Division in 2011. Finerty has a bachelor's degree in accounting from Southern Illinois University.

Ramin Younessi Appointed Vice President of Industrial Power Systems & Growth Markets Division  Following the announcement that Tana Utley will replace the retiring Steve Fisher as vice president of Caterpillar's Large Power Systems & Growth Markets Division, Caterpillar's Board of Directors has appointed Ramin Younessi to replace Utley as vice president with responsibility for the Industrial Power Systems & Growth Markets Division.

In conjunction with this leadership change, Caterpillar is also announcing a realignment of parts of its reciprocating engine business to better align engine products with global customer requirements. As a result, the Industrial Power Systems & Growth Markets Division to be led by Younessi will be accountable for all Caterpillar and Perkins brand engines 18 liters and below. Consistent with this change, several facilities that have been part of Caterpillar's Large Power Systems & Growth Markets Division will move to become part of the Industrial Power Systems & Growth Markets Division.

Stock quotes in this article: CAT 

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