Changes at Cat: Owens to succeed Barton as chairman/CEO: two new group presidents, three VPs named; Haefeli replaces Baunton at Perkins - industry news

Diesel Progress North American Edition, Jan, 2004

Caterpillar Inc. selected James W. Owens to be the next chairman and CEO of the Peoria, Ill., manufacturer. Owens will replace Glen A. Barton, who will retire Jan. 31, 2004, after nearly 43 years with Caterpillar and five years as chairman and CEO.

Owens was appointed vice chairman in mid-December and will succeed Barton as chairman and CEO on Feb. 1, 2004. Caterpillar's policy sets a mandatory retirement age for officers of 65 years, which Barton will reach in August 2004.

The changes at the top continued the day after the Owens announcement with two new group presidents named, along with three new vice presidents, a new job for one vice president and a change at the top of Perkins Engine Co Ltd.

"Jim Owens brings a broad understanding of Caterpillar's business strategy as group president for a diverse set of business units, including human services, component manufacturing, product support, logistics, information technology and Latin American marketing," said Barton. "His education and experience--which includes a doctorate in economics; and his extensive financial experience uniquely qualify him for the challenges Caterpillar faces in a complex global economy," Barton said.

Owens, 57, joined Caterpillar in 1972 as a corporate economist and held various management positions in economics, accounting and product source planning. In 1987 he became managing director of P.T. Natra Raya, Caterpillar's joint venture in Indonesia. He was elected a corporate vice president in 1990 and named president of Solar Turbines Inc., a Caterpillar subsidiary. In 1993 he became chief financial officer and in 1995 assumed the position of group president.

Barton began his career with Caterpillar in 1961 as a college graduate trainee. He was elected a vice president of Caterpillar and president of Solar Turbines in 1987. In 1989, he became executive vice president of Caterpillar with responsibility for worldwide marketing. On July 1, 1990, Barton became group president with responsibility for the design, development and production of most of Caterpillar's line of forest, mining and construction equipment. On February 1, 1999, he was named chairman and CEO.

Prior to being named vice chairman, Owens was a group president and executive office member with administrative responsibility for the Component Products & Control Systems Division, Human Services Division, Latin America Division, Logistics Division, Product Support Division, and Systems & Processes Division.

Owens has a Ph.D. in economics from North Carolina State University and joined Caterpillar in 1972 as a corporate economist. In 1975 he was named chief economist of Caterpillar Overseas S.A. in Geneva, Switzerland. From 1980 until 1987 he held managerial positions in Peoria in the accounting and product source planning departments.

The second set of announcements was the result of the Jan. 31, 2004, retirements of two Caterpillar officers; Vito H. Baumgartner and Sherril K. West. Baumgartner is group president with responsibility for Caterpillar's Building Construction Products Division, EAME Marketing Division, EAME Product Development & Operations Division, and the European Shared Services Division.

West, a Caterpillar vice president, is head of Caterpillar's Technical Services Division. As chief technology officer, West has administrative responsibility for the company's research and development activities, as well as operations at the Technical Center in Mossville, Ill., and the three company proving grounds.

Gerard Vittecoq replaces Baumgartner as group president. Vittecoq currently is a vice president with responsibility For the EAME Operations Division, including Caterpillar Belgium S.A., Caterpillar France S.A., Global Paving, and European Fabrication & Work Tools.

Owens spot is being filled by Steven H. Wunning, who becomes a group president overseeing a variety of business units, including human services, component manufacturing, product support, logistics, information technology and Latin American marketing. Wunning is a vice president of Caterpillar Inc., and chairman and president of Caterpillar Logistics Services Inc.

Perkins gets a new boss as Michael J. Baunton, currently vice president in charge of Caterpillar's Compact Power Systems Division and president of Perkins Engines Co. Ltd., will assume the responsibilities now assigned to Vittecoq. Baunton oversees Perkins Engines and FG Wilson products, including manufacturing Facilities in the United Kingdom and Brazil.

Baunton's replacement is Hans A. Haefeli who will become vice president with responsibility for the Compact Power Systems Division. Haefeli is currently general manager for Caterpillar's Building Construction Products Division, Cary, N.C.

The other two new vice presidents are Mary H. Bell who will replace Winching at Cat Logistics, and Mark R. Pflederer who was elected vice president with responsibility for Caterpillar's Technical Services Division, following West's retirement..

Bell is currently manager of Caterpillar Distribution Services, a division of Cat Logistics. Pflederer is currently general manager of Electronic & Electrical Systems within the Component Products & Control Systems Division.