DEERFIELD, Ill., Dec. 14, 2018 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced several changes in responsibilities for current vice presidents. The company's board of directors also appointed a new vice president. All moves are effective January 1, 2019.
New Responsibilities for Distribution Services Leaders
Caterpillar's Services, Distribution and Digital (SD&D) segment is restructuring its distribution divisions to better serve its global customer and dealer base.
"By concentrating our distribution support into three distinct regions, we are better able to support our dealers and customers around the world," said SD&D Group President Bob De Lange. "Our leaders will provide the expertise and focused local resources to support our dealers in offering the products, solutions and services our customers deserve."
Raymond Chan, who was first named a vice president in 2015 and currently has responsibility for the Asia Pacific, CIS, Africa & Middle East Distribution Services Division, will now oversee the Asia Pacific Distribution Services Division.
Phil Kelliher will transition from the vice president of the Americas and Europe Distribution Services Division to the vice president of the Americas Distribution Services Division. Kelliher has been a Caterpillar vice president since 2015.
Nigel Lewis, currently vice president of Global Aftermarket Solutions Division, will now have responsibility for the Europe, Africa and Middle East Distribution Services Division. Lewis became a Caterpillar vice president in 2012.
New Leadership for Global Aftermarket Solutions Division
Current Global Construction & Infrastructure (GCI) Division Vice President Damien Giraud, who was named a vice president in 2017, will now lead the Global Aftermarket Solutions Division within SD&D.
"Damien's deep product and marketing background will serve him well in his new role overseeing our aftermarket division, which is key to growing our services offerings," said De Lange.
New Vice President Appointed for Global Construction & Infrastructure Division
Caterpillar's board of directors has appointed Jason Conklin, currently industry region manager within GCI, to the position of vice president of GCI.
"Jason brings nearly 20 years of progressive sales and product experience to this role and a strong background in building relationships with dealers and customers during assignments around the world. Combined with his ability to execute on strategic priorities, he is an excellent fit to lead GCI," said Construction Industries Group President Tom Pellette.
Conklin joined Caterpillar as an intern in 1998 before moving into marketing and sales roles around the United States in various construction divisions. In 2012, he became the industry sales manager for the Building Construction Products Division. He moved to Switzerland in 2015 to become a product manager within Caterpillar's Earthmoving Division before taking on his current role as industry region manager within GCI. Conklin holds a bachelor's degree in Business Administration from the University of Illinois.
For more than 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 2017 sales and revenues of $45.462 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 primary segments - Construction Industries, Resource 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.
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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 and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) additional restructuring costs or a failure to realize anticipated savings or benefits from past or future cost reduction actions; (x) failure to realize all of the anticipated benefits from initiatives to increase our productivity, efficiency and cash flow and to reduce costs; (xi) inventory management decisions and sourcing practices of our dealers and our OEM customers; (xii) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xiii) union disputes or other employee relations issues; (xiv) adverse effects of unexpected events including natural disasters; (xv) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xvi) 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; (xvii) our Financial Products segment's risks associated with the financial services industry; (xviii) changes in interest rates or market liquidity conditions; (xix) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xx) currency fluctuations; (xxi) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xxii) increased pension plan funding obligations; (xxiii) alleged or actual violations of trade or anti-corruption laws and regulations; (xxiv) additional tax expense or exposure, including the impact of U.S. tax reform; (xxv) significant legal proceedings, claims, lawsuits or government investigations; (xxvi) new regulations or changes in financial services regulations; (xxvii) compliance with environmental laws and regulations; and (xxviii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
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