Caterpillar Announces Officer Retirements; New Vice Presidents Elected

Three Caterpillar officers have elected to retire at mid-year and the board of directors has elected three new vice presidents. "These retiring officers are leaving behind a far-reaching legacy that impacts many areas of the company. Their careers have included assignments around the world," said Caterpillar Chairman and CEO Glen Barton. "And these officers&#8217; contributions include strengthening our internal control environment, creating increased opportunities for Caterpillar in emerging markets, and improving the cost effectiveness of our dealer distribution network. In recent years, their efforts have been instrumental in achieving corporate goals including growth, cost effectiveness and social responsibility. We thank them for their hard work and wish them all the best." Vice President Duane H. Livingston is retiring after 38 years at Caterpillar. He currently has administrative responsibility for the Corporate Auditing & Compliance Division. The Board of Directors has elected Ali M. Bahaj, who is currently manager for cost management and business services in the Corporate Services Division, to succeed Livingston. Vice President Robert C. Petterson is retiring after 38 years at Caterpillar. He has responsibility for marketing and manufacturing operations in Latin America and for Caterpillar World Trading Corporation. Succeeding Petterson is Thomas A. Gales, who is currently a Caterpillar vice president with responsibility for the product support division. Gales has held numerous positions in Latin America and is a past president of Caterpillar Mexico S.A. The Board has elected William F. Springer, who is currently president of Caterpillar Logistics Services Inc., to succeed Gales as product support vice president. Vice President John E. Pfeffer is retiring after 35 years at Caterpillar. He has responsibility for the North American Commercial Division (NACD), which oversees the company&#8217;s North American machine marketing. The Board has elected Stephen A. Gosselin, who is currently a regional manager for NACD, to succeed Pfeffer. The three retirements will become effective mid-year. The newly elected vice presidents&#8217; appointments are effective May 1, 2002 and orderly transitions will be managed on an individual basis. Duane H. Livingston Duane Livingston is a vice president with administrative responsibilities for corporate auditing & compliance division. His responsibilities include corporate auditing/information technology, business risk management, corporate environmental, health & safety, and the office of business practices. Livingston served in a variety of positions at Caterpillar facilities in East Peoria, Morton and Mossville, IL; Monterrey, Mexico; and corporate headquarters in Peoria, IL. He was director of corporate auditing with internal audit responsibility for all Caterpillar worldwide entities before his election as vice president in 1995. Robert C. Petterson Bob Petterson is a vice president with responsibility for marketing and manufacturing operations in Latin America -- including both Caterpillar Americas Co. and Caterpillar Brasil Ltda. -- and Caterpillar World Trading Corporation. Petterson began his career with Caterpillar in 1964 as a sales representative in Latin America and held various sales and finance positions worldwide including Brazil, Hong Kong and Geneva. In 1991, he was elected a vice president with administrative responsibility for Asia-Pacific and Latin America. In 1992, he was elected vice president of Caterpillar Brasil S.A., and became that facility&#8217;s president. He assumed his present position in 1994. John E. Pfeffer John Pfeffer is a vice president with responsibility for the North American Commercial Division (NACD), which oversees the company&#8217;s North American machine marketing. Pfeffer joined Caterpillar in 1967 and held a series of management marketing positions worldwide. He was the business unit manager at the plant in York, PA, before becoming a vice president in 1995 with responsibility for Shin Caterpillar Mitsubishi Ltd. (SCM) in Japan. He became vice president for NACD in 2000. Thomas A. Gales Tom Gales is a vice president with responsibility for the product support division. He has responsibility for the company&#8217;s remanufactured products division, parts and service marketing, service information development, service training, as well as administrative responsibility for a joint venture filter plant in Champaign, IL, and a joint venture steel foundry in Mexico. Gales joined the company in 1970 in sales training. He has held a series of management positions in marketing in the United States, Europe and Latin America. He was elected a vice president in 2000. Ali M. Bahaj Ali Bahaj is manager for cost management and business services in the corporate services division. Bahaj joined the company in 1980 as an account analyst in Treasury. He served in numerous finance positions worldwide. He was director of division services at engine products division when he was named to his current position in 2001. Stephen A. Gosselin Steve Gosselin is regional manager for the North American Commercial Division (NACD), which has responsibility for the company&#8217;s North American machine marketing. Gosselin joined Caterpillar in 1979 as a parts sales trainee and subsequently served in many positions primarily in product support and engine marketing. He was area manager in Europe and served as the North American distribution manager for engine products division when he was named regional manager for NACD in 2000. William F. Springer Bill Springer is president of Caterpillar Logistics Services Inc. with responsibility for managing integrated logistics operations for nearly 40 third-party clients worldwide. Springer joined Caterpillar in 1973 as a parts trainee. He has held a variety of management positions worldwide, primarily in product support and marketing. He was the hydraulic excavator product manager for the wheel loaders & excavators division when he was named president of Cat Logistics in1998.