DEERFIELD, Ill., Jan. 26, 2018 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today that Frank Crespo, Caterpillar vice president of Global Supply Network Division (GSND), has elected to retire. In connection with this retirement, the GSND organization will be consolidated into existing divisions within the company.Crespo joined Caterpillar in 2010, and since then he has led the procurement teams, along with our global suppliers, to achieve world-class procurement processes and deliver on our customer commitments. "We thank Frank for his commitment and dedication to Caterpillar and his contribution to the success of our customers," said Denise Johnson, Caterpillar group president of Resource Industries. Prior to joining Caterpillar, Crespo was Vice President and Chief Procurement Officer with Honeywell International Inc. At Honeywell, he had responsibility for setting strategic direction, developing and managing the supplier base, driving supplier alliance relationships, and building and delivering people excellence within the organization. Crespo's retirement is effective February 1, 2018. About CaterpillarFor more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2017 sales and revenues of $45.462 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 principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media. View original content with multimedia: http://www.prnewswire.com/news-releases/caterpillar-announces-officer-retirement-consolidation-of-functions-300588978.html SOURCE Caterpillar Inc.