Following a combined 65 years of outstanding service and contributions to the company, Caterpillar Inc. (NYSE: CAT) announced Oct 11 that Group Presidents Rich Lavin and Gerard Vittecoq have elected to retire. Lavin is a Caterpillar group president with responsibility for Construction Industries & Growth Markets. Vittecoq is a group president with responsibility for Energy & Power Systems. The company also announced that Caterpillar’s Board of Directors has appointed current Group President and CFO Ed Rapp as Lavin’s replacement. Brad Halverson will replace Rapp as a group president and CFO and Jim Umpleby has been appointed to replace Vittecoq as group president for Energy & Power Systems.
“We will be saying goodbye to fantastic leaders with these retirements, but we have a deep and talented group of Caterpillar executives,” said Caterpillar Chairman and CEO Doug Oberhelman. “I am confident our new leaders will build on the work of their predecessors as we move toward our 2015 goals and beyond.”