EAGAN, Minn., Jan. 14, 2014 /PRNewswire/ -- The Board of Directors of Cat Auction Services (CAS) announced today that Gary Trettel, previously its Chief Financial Officer and General Manager, will take over as the company's new President and CEO, effective immediately. Rick Albin, the former President/CEO, has been elected to the role of Executive Vice President.
"Rick's vision and leadership in creating and building Cat Auction Services has changed the standard in auction companies," said William Hoeft, Chairman of the Board for CAS. "His passion and years of expertise in the industry has positioned Cat Auction well to continue its extraordinary path of growth and profitability. His contributions across all functions of the company are remarkable and we want to continue to utilize his strengths to build on the momentum of the company." As an officer of the company, Albin will continue to serve on the Board of Directors and in his new role as EVP, will focus on business growth through customer and market definition, while continuing to be actively involved in the vision and direction of CAS.
"Due to the significant expansion Cat Auction has experienced, we felt it was time to add more strength to the top and create a better division of responsibilities," added Hoeft. "We have complete confidence in Gary to lead Cat Auction into the next stage. His four years of service with Cat Auction Services as CFO and GM is marked with many contributions to the success it is seeing today and he has demonstrated outstanding leadership qualities."
As the CFO/GM, Trettel has been a key player in creating a sustainable, profitable business model, facilitating the new partnership with Caterpillar, building a high performing staff and re-focusing the business. In his new role, his responsibilities will include the continued execution and planning of Cat Auction Services, focusing on growth and stability. Prior to joining CAS in 2010, Trettel spent 11 years with Mohawk Moving & Storage-United Van Lines, serving as its controller, EVP and then finally the President and CEO, before leaving in 2010.
About Cat Auction Services
Cat Auction Services entered the heavy equipment auction arena in late 2008. Cat Auction Services was formed through a unique partnership of Cat dealers and Caterpillar Inc. The addition of Cat Auction Services to the portfolio of services available to Cat customers and others in the heavy equipment industry builds upon the company's existing customer loyalty. Cat Auction Services facilitates auctions through live events, online bidding and a monthly, timed-out, online platform called eQuipment Yard. CAS has raised the bar in heavy equipment auctions, giving customers a better experience with its innovative LEADERBOARD, professional staff, TA-1 inspection reports, comprehensive photos and videos, equipment protection plans and equipment financing. For more information, visit www.catauctions.com.
SOURCE Cat Auction Services