Caterpillar Announces Retirement of Group President

October 18, 2007 • Caterpillar, Peoria, Ill., recently announced that group president Gerry Shaheen has elected to retire effective Feb. 1, 2008. The company's board of directors has appointed Rich Lavin and Ed Rapp as group presidents, joining the company's executive office. Lavin and Rapp's appointments will be effective Dec. 1, 2007.

"Gerry's leadership has been exceptional, and on behalf of everyone at team Caterpillar, I want to thank him for more than 40 years of distinguished service with the company and within our industry," said Jim Owens, Caterpillar chairman and CEO. "Over the course of his career, Gerry has provided key leadership for our global marketing organizations and across Caterpillar's wide range of machine and engine products. He has also worked to strengthen and build critical relationships with our entire global dealer network. In addition, Gerry has set an example in the communities where he has lived by offering his time and talent to organizations outside of Caterpillar."

 

New to the role of group president, Lavin has been a Caterpillar vice president since 2001, serving as Human Services Division vice president until 2004 when he was named vice president with responsibility for Caterpillar's Asia Pacific manufacturing operations. Owens cited Lavin's broad-based, global business experience and leadership in announcing his selection as a Caterpillar group president.

 

Rapp has also been a Caterpillar vice president since 2000, serving as the head of the Europe-Africa-Middle East (EAME) marketing division until 2004 when he was named vice president with responsibility for the Building Construction Products Division (BCP). Owens noted Rapp's strong commercial, operations and finance background in naming him a Caterpillar group president.

 

Reflecting Caterpillar's global business growth and continued expansion of its service businesses, Caterpillar will be realigning its executive office. There will now be six group presidents reporting directly to Owens.

 

"Since 2002, we have more than doubled the size of our company," said Owens. "The addition of a group president aligns well with our enterprise strategy, which calls for continued growth in key emerging markets and greater opportunities for the expansion of Caterpillar's service businesses. Our executive team has more than 200 years of Caterpillar experience covering every region of the world. This gives Caterpillar unparalleled depth as we respond to the needs of our global customer base."