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Caterpillar Announces Officer Retirement

PEORIA, Ill., Dec. 13, 2013 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced the retirement of Vice President Hans Haefeli and the appointment of a new vice president, Jean Savage, who will replace Haefeli.

Hans Haefeli Retirement

After more than 15 years with Caterpillar, Hans Haefeli, vice president with responsibility for the Advanced Components & Systems Division (ACSD), has elected to retire to return to the United Kingdom. Haefeli's retirement will be effective April 30, 2014.

"Hans came to Caterpillar building on a successful career in which he developed and demonstrated deep expertise in finance and accounting in the United Kingdom—a background that has served him well in both the engine and machine component units he led at Caterpillar," said Steve Wunning, Caterpillar group president with responsibility for Resource Industries. "Hans has also provided outstanding executive leadership these past few years during the development and deployment of the company's connected worksite and telematics strategy. He has always been exceptional in leading his team and working across the enterprise with his collaborative and engaging leadership."

Beginning in 1982, Haefeli worked his way up through positions at UK accounting firms, then held leadership positions, including Finance Director, at British-based building materials company, Hanson PLC.

Haefeli joined Caterpillar in 1998 where he held numerous positions of increasing responsibility at the company's wholly owned subsidiary, Perkins Engine Company Limited in England, before leadership positions in Compact Power Systems and Building Construction Products Divisions. Haefeli became a Caterpillar vice president in 2004, leading the Industrial Power Systems Division before his current role in ACSD. Haefeli has bachelor's and postgraduate (Certification in the Theory of Accounting – CTA) degrees in accounting from the University of Cape Town.

Jean Savage Appointed Vice President

Following the announcement of Haefeli's retirement, Caterpillar's Board of Directors appointed Jean Savage as vice president with responsibility for the Advanced Components & Systems Division. Savage is currently a senior vice president and Chief Operating Officer of the Locomotive and Railcar Services business unit for Caterpillar subsidiary Progress Rail Services (PRS).

"Jean joined Progress Rail Services in 2002, bringing with her more than 20 years of outside business and military leadership experience," said Wunning. "In addition to her deep expertise in the rail business, her significant background in component manufacturing and engineering will serve her well as she leads ACSD."

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