PEORIA, Ill., Dec. 19, 2014 /PRNewswire/ -- Caterpillar
Inc. (NYSE: CAT) today announced the retirement of Vice President
Jim Johnson and the appointment of a
new vice president, Raymond Chan,
who will replace Johnson.
Jim Johnson Retirement
After more than 37 years with Caterpillar, Jim Johnson, vice president with responsibility
for the Asia Pacific Distribution Services Division (APDSD), has
elected to retire, effective February 1,
2015.
"I want to recognize Jim for his loyalty and contributions over
the nearly four decades of his career at Caterpillar," said
Rob Charter, who will become
Caterpillar group president with responsibility for the Customer
and Dealer Support on January 1,
2015. "His deep expertise in the areas of product support,
rental, marketing, parts support and dealer interface and his
reputation for customer focus have served the company well, and I
wish him and his family all of the best as Jim moves into this next
phase of his life."
Johnson joined Caterpillar in 1977 as part of the engineering
training program in East Peoria,
Illinois. Over the next several years, Johnson held a series
of service and sales positions with increasing responsibilities and
then advanced through marketing and product positions in the U.S.,
UK and Japan before becoming the
managing director of sales and marketing for Shin Caterpillar
Mitsubishi in 2004. He then led the Global Rental and Used
Equipment team, Caterpillar Used Equipment Services, Inc. and the
Lifecycle Products and Services department before being named a
vice president in 2012. Johnson holds a bachelor's degree in
chemical engineering from Washington
University and completed Caterpillar's Executive Leadership
Program, Digging Deep.
Raymond Chan Appointed Vice President
Caterpillar's Board of Directors has appointed Raymond Chan as vice president with
responsibility for the Asia Pacific Distribution Services Division
(APDSD), replacing Johnson. Chan is currently a member of the APDSD
leadership team, serving as regional manager based in Beijing.
"As Caterpillar has invested and grown our business in
China over the last decade,
Raymond has played a critical leadership role supporting our
dealers in China, positioning
Caterpillar and its China-based
dealers for long term success," Charter said. "His knowledge and
experience of both dealer and Caterpillar customer issues and
opportunities in-region combined with his more than two decades of
internal and external expertise in engines provide a diverse and
strong foundation for this role."
Chan joined Caterpillar in 1986 after working in the energy
industry in Hong Kong, China,
France and Malaysia. His first nine years at Caterpillar
were spent working in the engine business at Cat China Ltd. in
Hong Kong. In 2005, Chan became
the China distribution manager
within APDSD, based in Beijing.
Since 2008, he has had the expanded responsibility of regional
manager with APDSD, remaining in Beijing. He has a bachelor's degree in
mechanical engineering and manufacturing from the University of Hong Kong. Chan will assume his new
position effective January 1, 2015,
and will relocate to Singapore to
better serve the entire Asia
Pacific market.
About Caterpillar:
For nearly 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 2013 sales
and revenues of $55.656 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 - Resource Industries,
Construction 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.
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 we
serve; (ii) government monetary or fiscal policies and
infrastructure spending; (iii) commodity price changes, component
price increases, fluctuations in demand for our products or
significant shortages of component products; (iv) disruptions or
volatility in global financial markets limiting our sources of
liquidity or the liquidity of our customers, dealers and suppliers;
(v) political and economic risks, commercial instability and events
beyond our control in the countries in which we operate; (vi)
failure to maintain our credit ratings and potential resulting
increases to our cost of borrowing and adverse effects on our cost
of funds, liquidity, competitive position and access to capital
markets; (vii) our Financial Products segment's risks associated
with the financial services industry; (viii) changes in interest
rates or market liquidity conditions; (ix) an increase in
delinquencies, repossessions or net losses of Cat Financial's
customers; (x) new regulations or changes in financial services
regulations; (xi) a failure to realize, or a delay in realizing,
all of the anticipated benefits of our acquisitions, joint ventures
or divestitures; (xii) international trade policies and their
impact on demand for our products and our competitive position;
(xiii) our ability to develop, produce and market quality products
that meet our customers' needs; (xiv) the impact of the highly
competitive environment in which we operate on our sales and
pricing; (xv) failure to realize all of the anticipated benefits
from initiatives to increase our productivity, efficiency and cash
flow and to reduce costs; (xvi) additional restructuring costs or a
failure to realize anticipated savings or benefits from past or
future cost reduction actions; (xvii) inventory management
decisions and sourcing practices of our dealers and our OEM
customers; (xviii) compliance with environmental laws and
regulation; (xix) alleged or actual violations of trade or
anti-corruption laws and regulations; (xx) additional tax expense
or exposure; (xxi) currency fluctuations; (xxii) our or Cat
Financial's compliance with financial covenants; (xxiii) increased
pension plan funding obligations; (xxiv) union disputes or other
employee relations issues; (xxv) significant legal proceedings,
claims, lawsuits or investigations; (xxvi) compliance requirements
imposed if additional carbon emissions legislation and/or
regulations are adopted; (xxvii) changes in accounting standards;
(xxviii) failure or breach of IT security; (xxix) adverse effects
of unexpected events including natural disasters; and (xxx) other
factors described in more detail under "Item 1A. Risk Factors" in
our Form 10-K filed with the SEC on February
18, 2014, for the year ended December
31, 2013, and in our Form 10-Q filed with the SEC on
August 1, 2014, for the quarter ended
June 30, 2014.
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SOURCE Caterpillar Inc.