Following the previous announcement that Jim Umpleby will become Caterpillar’s new CEO as of 1 January 2017, the company has made additional changes in its executive ranks.
The company’s Board of Directors has appointed current Construction Industries Group President Tom Pellette, as Group President of Energy & Transportation, the position previously held by Umpleby.
Bob De Lange will replace Pellette as the Group President of Construction Industries. De Lange is currently Vice President of the Excavation Division. Additionally, the Board has appointed Billy Ainsworth, Senior Vice President and Strategic Advisor to the Caterpillar Executive Office. In addition to his new responsibilities, Ainsworth will continue to have responsibility for Caterpillar’s Rail Division.
These changes are effective 1 January 2017.
“To this role, Tom brings broad and global experience serving customers in the oil and gas and power generation markets,” Umpleby said. “Since joining Caterpillar’s Executive Office leading Construction Industries in 2015, Tom has delivered strong results while operating in a very challenging economic climate. Tom’s proven track record of effective leadership, combined with his extensive global experience serving customers, gives me great confidence as he takes on this new role.”
Additionally, after more than 38 years with Caterpillar, Kent Adams President and CEO of Caterpillar Financial Services Corp. and Caterpillar Vice President of the Financial Products Division, has elected to retire.
“Under Kent’s guidance since 2005, Cat Financial has been a stable source of earnings through challenging business cycles, including the global financial crisis,” said Umpleby. “Kent leaves a lasting legacy for Caterpillar through his relentless focus on improving the customer experience as well as developing and nurturing a people-focused culture for employees working for Cat Financial.”
Adams joined Caterpillar in 1979 and performed various finance functions in positions of increasing leadership at Caterpillar Americas Co., the North American Commercial Division, Caterpillar Asia Pte. Ltd. and Caterpillar Brasil Ltda. before joining Cat Financial in Nashville, Tennessee, in 1998 as vice president responsible for European operations and marine vessel finance. He was a member of the Equipment Leasing and Finance Association Board of Directors, the Financial Services Roundtable, the Nashville branch of the Federal Reserve Board of Atlanta, the Nashville Area Chamber of Commerce and the Board of the United Way of Metropolitan Nashville.
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