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2014

Caterpillar Announces Changes and Appointments for Vice Presidents

Moves Follow Previously Announced Retirements and Changes in Caterpillar's Executive Office

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PEORIA, Ill., Oct. 12, 2012 /PRNewswire/ -- Following the previous announcement that two group presidents are retiring and new responsibilities for another group president, Caterpillar Inc. (NYSE: CAT) today announced related changes at the vice president level, including the retirement of Vice Presidents Bill Springer and Gary Stampanato.

Bill Springer Retirement
After more than 39 years with Caterpillar, Bill Springer, vice president of the Diversified Products Division, has elected to retire. Springer's retirement will be effective February 1, 2013.

"During a career spanning four decades, Bill has developed a reputation for finding innovative solutions for our customers," said Steve Wunning, Caterpillar group president with responsibility for Resource Industries." His demonstrated leadership and passion for supporting our customers is the hallmark of his career."

Springer joined Caterpillar in 1973. Early in his career, Springer worked in various parts and service marketing positions, including six years where he worked extensively with Caterpillar dealers in Latin America and the Middle East. In 1979, Springer returned to Peoria, Ill., and spent the next 10 years in a variety of product support development and marketing roles, including marketing manager for the Cat Service Technology Group. In 1989, he was named general manager for Cat Export Services, a parts distribution organization responsible for handling customers' direct export parts orders. Three years later, Springer accepted the position of district manager with Caterpillar of Australia, where he worked closely with dealer senior management and large international customers. In 1998, he became president of Caterpillar Logistics Services, Inc., responsible for all third-party logistics clients. Springer was elected vice president with responsibility for the Product Support Division in 2002. In 2009, he became vice president with responsibility for the Quarry and Specialty Industries Division. In 2010, he was named to his current position, vice president with responsibility for the Diversified Products Division.

Gary Stampanato Retirement
After 35 years with Caterpillar, Gary Stampanato, vice president of the Excavation Division, has elected to retire. Stampanato's retirement will be effective February 1, 2013.

"During an outstanding career with Caterpillar, Gary has earned a reputation as an innovative and creative leader with a deep level of expertise in manufacturing processes and excellence," said Rich Lavin, Caterpillar group president with responsibility for Construction Industries & Growth Markets. "Most recently, Gary has been instrumental in growing Caterpillar's global excavator manufacturing footprint and business, which positions the company for market leadership with this important product," Lavin added.

Since joining Caterpillar in 1978 as part of Caterpillar's College Training & Management Development program, Stampanato has held numerous positions, including a variety of manufacturing-related positions. In 1989, he was named product development manager for large mining equipment at Caterpillar's Decatur, Ill., facility. He also served as product manager for large wheel loaders and general manager for the hydraulics/fabrications business unit before being named general manager of the Large Engine Center in Lafayette, Ind. In 2006, Caterpillar's Board of Directors named Stampanato vice president with responsibility for the Infrastructure Product Development Division and then in January 2009, vice president of the Excavation Division.

Qihua Chen Appointed Vice President of China Operations Division
Caterpillar has a long history in the Chinese market, and as China's economy has developed and matured over the last several decades, the company and its dealers have made significant investments to grow operations and customer support facilities. Caterpillar's success in China is defined as one of its "Big 8" strategic imperatives critical for Caterpillar to achieve its 2015 strategy. Because of this, the company has created a new, Beijing-based executive position, and today the company announced that its Board of Directors has appointed Qihua Chen as a Caterpillar vice president with responsibility for China Operations. Chen will also assume the role of country manager for Caterpillar in China.

"For the last several years, Qihua has been the general manager for Caterpillar's flagship manufacturing facility in China, Caterpillar Xuzhou Ltd. (CXL)," said Ed Rapp, who as was previously announced will become group president with responsibility for Construction Industries effective January 1, 2013. "Under Qihua's leadership at CXL, the facility has made dramatic improvements in productivity, while also significantly increasing its capacity and improving machine quality. In fact, CXL is the Caterpillar facility that we benchmark for internal improvements at other facilities," Rapp added.

In this new executive role, Chen will have responsibility for interface between Caterpillar and key Chinese government leaders, as well as representing the company on industry issues in China. In addition, Chen will continue to have a significant role as a member of the board of directors of Siwei, a Chinese underground coal mining equipment company recently acquired by Caterpillar. Chen will also have accountability for two of Caterpillar's major construction machinery facilities in China, located in Xuzhou and Suzhou.

"The success of these facilities will play a critical part in Caterpillar's overall China strategy, and I am confident that Qihua Chen is the best person to succeed in this new role," Rapp added.

Chen, a native of China, has been with Caterpillar for 18 years. He has held a range of manufacturing positions with increasing responsibility in China. He played a critical role leading the integration of Shandong Engineering Machinery (SEM), a wholly-owned Chinese wheel loader manufacturer acquired by Caterpillar. In addition, Chen was based at Caterpillar's Technical Center in Mossville, Ill., from 1999 through 2003. He holds a bachelor's degree from Shandong Industry University and a master's degree in business administration from the China Europe International Business School. He also completed the Stanford University Executive Program. He is a director of the China Construction Machinery Association and is vice president of the Jiangsu Foreign Investment Association. Chen will assume his new position effective January 1, 2013.

New Responsibilities for Vice Presidents Rob Charter, Paolo Fellin, Gwenne Henricks and Tana Utley
In keeping with Caterpillar's history and custom of providing continuous leadership and career development opportunities, Caterpillar's Board of Directors has approved changes in responsibilities for current Caterpillar Vice Presidents Rob Charter, Paolo Fellin, Gwenne Henricks and Tana Utley. These changes will be effective January 1, 2013.

Following the announcement of the retirement of Gary Stampanato, vice president of the Excavation Division, Caterpillar's Board of Directors has appointed Rob Charter, vice president of the Asia Pacific Distribution Division, to replace Stampanato. Charter was first named a Caterpillar vice president in 2009.

Charter joined Caterpillar in 1989 as a development engineer in Melbourne, Australia, his native country. Over the years, he's worked closely with dealers in Asia, Australia and Latin America. He also has experience in product management, including his role as product manager in Tokyo. In 2005, he was named a regional manager in Caterpillar's Latin America Division. Charter holds a bachelor's degree in mechanical engineering from Ballarat University in Victoria, Australia, and has completed the Stanford University Executive Program.

Caterpillar's Board of Directors has appointed Paolo Fellin, currently Caterpillar vice president for the EAME Distribution Division, as vice president of the newly created Construction Industries Sales & Marketing Division. This newly created division will leverage and build on the excellent work and results that have been delivered by the existing organization within Caterpillar. The objective of the division will be consistent with the company's business model to grow a large base of machinery population and to increase the company's global leadership position for construction machinery. The new division will be located in Geneva, Switzerland, where Fellin is currently based and will report to Ed Rapp.

"As we evaluated our key objectives for meeting our 2015 goals and beyond, it became clear that this part of our organization should be elevated to the division level and be led by an experienced vice president," Rapp said.

Fellin, a native of Italy, has been with Caterpillar for 32 years. He was first named a Caterpillar vice president for the EAME Marketing Division in 2004, following a series of positions with increasing responsibilities in sales and marketing, product development and operations for Caterpillar in Europe/CIS, Africa, the Middle East and the U.S. Fellin holds a master's degree in business administration from the University of Wisconsin at Madison and is a graduate of the Advanced Executive Program at the Kellogg Graduate Business School at Northwestern University.

Gwenne Henricks was first named a Caterpillar vice president in 2007, and has been vice president of the UK-based Industrial Power Systems & Growth Markets Division since 2009. Henricks will relocate to the U.S. as Caterpillar's chief technology officer and vice president of the Product Development & Global Technology Division. Henricks has a bachelor's degree in physics and a master's degree in electrical engineering from Bradley University. She earned a master's degree in business administration from the University of Illinois and completed the Managing Engineering Design and Development Program at the Carnegie Bosch Institute.

Tana Utley was first named a Caterpillar vice president in 2007. She is currently Caterpillar's chief technology officer and vice president of the Product Development & Global Technology Division. She will become the vice president of the UK-based Industrial Power Systems & Growth Markets Division. Utley will also assume the role of country manager for Caterpillar in the UK, where she will relocate. 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.

Nigel Lewis Appointed Vice President of EAME Distribution Division
Following the announcement that Paolo Fellin will assume duties as vice president of the newly created Construction Industries Sales & Marketing Division, Caterpillar's Board of Directors has appointed Nigel Lewis to replace Fellin as vice president with responsibility for the EAME Distribution Division.

"Nigel brings extensive leadership experience in dealer development and administration, most recently as the region manager for South America for distribution services," said Stu Levenick, group president for Customer & Dealer Support. "His additional leadership experience with our Perkins engine business in his native UK and in Asia provides him with a global perspective that will serve our dealers in the EAME region well," Levenick added.

Lewis joined Perkins, a wholly owned Caterpillar subsidiary, in 1998 as a pricing manager and held a series of marketing positions with increasing responsibility with Perkins in the UK. In 2002, he was promoted to general manager for Perkins Engines Asia Pacific and was based in Singapore. In 2004, Lewis moved to global revenue management in Peoria, Ill., before moving to Nashville, Tenn., as district manager in what is now the Caterpillar Americas Distribution Division. Lewis holds a bachelor's degree in French and business from Queen's University, Belfast, and a master's degree in business administration from Warwick University. Lewis will relocate to Geneva, Switzerland, for his new position, which will be effective January 1, 2013.

Jim Johnson Appointed Vice President of Asia Pacific Distribution Division
Following the announcement that Rob Charter will assume new responsibilities as the vice president of the Excavation Division, Caterpillar's Board of Directors has appointed Jim Johnson to replace Charter as vice president with responsibility for the Asia Pacific Distribution Division.

"During his 35 years with Caterpillar, Jim has developed deep expertise and a global perspective leading organizations in the areas of product support, rental, marketing and parts support," Levenick said. "His reputation for focusing on providing solutions to our customers and his previous work with dealers in several regions of the world will serve him well in this new role."

Johnson joined Caterpillar in 1977 as part of the engineering Co-op training program in East Peoria, Ill. During the 1980's, Johnson held a series of service positions with increasing responsibilities. From 1988 until 1994, Johnson was a machine sales, service and parts sales representative. Johnson then advanced through a series of marketing and product positions in the U.S., UK and Japan. In 2004, he became the managing director of sales and marketing for Shin Caterpillar Mitsubishi. In 2006, he moved back to the U.S. to start up the Global Rental and Used Equipment department within the Marketing and Product Support Division. He is currently president of Caterpillar Used Equipment Services, Inc. and general manager of the Lifecycle Products and Services department in the Customer Services Support Division. Johnson holds a bachelor's degree in chemical engineering from Washington University, and he recently completed Caterpillar's Executive Leadership Program, Digging Deep. Johnson will relocate to Singapore for his new position, which will be effective January 1, 2013.

Denise Johnson Appointed Vice President of Diversified Products Division
Following the announcement of the retirement of Bill Springer, Caterpillar's Board of Directors has appointed Denise Johnson to replace Springer as vice president with responsibility for the Diversified Products Division. Johnson is currently the general manager of Caterpillar's Specialty Products Business Unit, where she has responsibility for 17 facilities across the Americas, Europe and Asia. She joined Caterpillar in 2011 following a career with General Motors (GM), where she built deep expertise in operations and product management in a series of positions in the U.S., Canada and Brazil.

"In a short period of time, Denise has made a significant impact at Caterpillar, driving systems improvements at several facilities," said Steve Wunning, Caterpillar group president with responsibility for Resource Industries. "Denise had a proven track record with GM, running complex manufacturing and product organizations with global reach and scope. This experience will serve her well as she takes over leadership of our Diversified Products Division," Wunning added.

Johnson joined GM as an associate product engineer and then held various positions within engineering, manufacturing and planning prior to being named as plant manager of Oshawa Truck Assembly in Ontario, Canada. She also held leadership positions as the vice president of North America labor relations and the vehicle line director / vehicle chief engineer for small car products. She was also president and managing director of GM do Brasil, Sao Caetano do Sul, Brasil. In 1989, Johnson received a bachelor's degree in mechanical engineering from Michigan State University. She earned dual master's degrees in mechanical engineering and business administration from the Massachusetts Institute of Technology in 1997. Johnson will assume her new position effective January 1, 2013.

Julie Lagacy Appointed Vice President of Finance Services Division
Following the previous announcement that Brad Halverson has been appointed a Caterpillar group president and CFO, Caterpillar's Board of Directors has appointed Julie Lagacy to replace Halverson as vice president with responsibility for the Finance Services Division. Lagacy has been with Caterpillar for 24 years and is currently the CFO for Caterpillar Global Mining.

"Within Caterpillar, Julie is recognized for her leadership, financial acumen and the breadth of her work across multiple business units," Halverson said. "In her most recent role, Julie has provided outstanding financial and strategic leadership to Caterpillar Global Mining during the integration of Bucyrus International, the largest acquisition in our company's history," Halverson added.

Lagacy joined Caterpillar in 1988 as a pricing analyst. She has held a number of pricing positions with increasing responsibilities. In addition, Lagacy brings experience from previous leadership positions as a product manager, commercial manager and human resources manager. She earned dual bachelor's degrees in economics and management from Illinois State University and has a master's degree in business administration from Bradley University. She is also a certified management accountant. Lagacy will assume her new position effective January 1, 2013.

Tom Pellette Appointed a Caterpillar Vice President, President of Solar Turbines
Following the previous announcement that Jim Umpleby has been appointed a Caterpillar group president with responsibility for Energy & Power Systems, Caterpillar's Board of Directors has appointed Tom Pellette to replace Umpleby as a Caterpillar vice president and the president of Solar Turbines. Pellette has been with Solar Turbines for 19 years and is currently Solar Turbines vice president for customer services.

"Tom brings a combination of outstanding leadership skills and a depth of global experience across Solar's business to this position," said Umpleby. "His deep expertise and understanding of Solar's customer base and its global operations will ensure a seamless transition for this business," Umpleby added. 

Pellette joined Solar Turbines in 1993 as a sales engineer based in Belgium. During his career, he has held a range of sales, product support and engineering positions with increasing responsibility with Solar, including significant experience in leadership positions in Europe, Asia and the U.S. Prior to joining Solar, Pellette worked for Tennessee Gas and Leybold Technologies. He has a bachelor's degree in mechanical engineering from Rice University, and he recently completed Caterpillar's executive leadership program, Digging Deep. Pellette will assume his new duties effective January 1, 2013.

About Caterpillar:
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 and Progress Rail Services. More information is available at: http://www.caterpillar.com.

Forward-Looking Statements
Certain statements in this release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements.  All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.

Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global economic conditions and economic conditions in the industries and markets we serve; (ii) government monetary or fiscal policies and infrastructure spending; (iii) commodity or component price increases and/or limited availability of raw materials and component products, including steel; (iv) our and our customers', dealers' and suppliers' ability to access and manage liquidity; (v) political and economic risks and instability, including national or international conflicts and civil unrest; (vi) our and Cat Financial's ability to: maintain credit ratings, avoid material increases in borrowing costs, and access capital markets; (vii) the financial condition and credit worthiness of Cat Financial's customers; (viii) inability to realize expected benefits from acquisitions and divestitures, including the acquisition of Bucyrus International, Inc.; (ix) international trade and investment policies; (x) challenges related to Tier 4 emissions compliance; (xi) market acceptance of our products and services; (xii) changes in the competitive environment, including market share, pricing and geographic and product mix of sales; (xiii) successful implementation of capacity expansion projects, cost reduction initiatives and efficiency or productivity initiatives, including the Caterpillar Production System; (xiv) sourcing practices of our dealers or original equipment manufacturers; (xv) compliance with environmental laws and regulations; (xvi) alleged or actual violations of trade or anti-corruption laws and regulations; (xvii) additional tax expense or exposure; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial covenants; (xx) increased pension plan funding obligations; (xxi) union disputes or other employee relations issues; (xxii) significant legal proceedings, claims, lawsuits or investigations; (xxiii) compliance requirements imposed if carbon emissions legislation and/or regulations are adopted; (xxiv) changes in accounting standards; (xxv) failure or breach of IT security; (xxvi) adverse effects of natural disasters; and (xxvii) other factors described in more detail under "Item 1A.  Risk Factors" in our Form 10-K filed with the SEC on February 21, 2012 for the year ended December 31, 2011. This filing is available on our website at www.caterpillar.com/secfilings

SOURCE Caterpillar Inc.



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