Caterpillar Creates New Division, Announces Appointment of Vice President

PEORIA, Ill., Nov. 2 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE:CAT) announced today that its Board of Directors has approved the appointment of Gwenne A. Henricks as a vice president. Henricks will have responsibility for the newly formed Electronics & Connected Worksite Division, which will have enterprise responsibility for hardware and software technology development and Caterpillar's global electronics strategy. This strategy will solidify Caterpillar's leadership in the fast developing areas of machine control and guidance, product health and asset management. This includes engine and machine systems integration, enhanced electronics and systems for operator stations, connected worksite systems and associated components.

Henricks joined Caterpillar in 1981 and has held a series of positions with increasing responsibilities in the areas of electronics engineering and product development. Previously, she was undercarriage product manager for Caterpillar's Track Type Tractors Division. Currently, Henricks is the manager of the Electronic & Electrical Systems Business Unit, which is part of Caterpillar's Motion and Power Control Division.

"Gwenne's leadership skills and experience make her the right choice for guiding this new organization which is being created in recognition of the growing importance of electronics and electrical systems, which increase the productivity and profitability of the Caterpillar machines and engines used by our customers," said Caterpillar Chairman and CEO Jim Owens. "This new division will provide focus for Caterpillar and Caterpillar dealers as we help customers realize more from Caterpillar products and solutions with equipment diagnostics and prognostics, as well as machine guidance capabilities through innovative telemetry such as global positioning systems and laser guidance."

Henricks has a bachelor's degree in physics and a master's degree in electrical engineering from Bradley University. She earned a Masters in Business Administration from the University of Illinois and completed the Managing Engineering Design and Development Program at Carnegie Bosch Institute. Henricks serves on the Board of Managers of Cat Trimble Control Technologies and is on the Board of Directors of 10G, LLC. She is a member of the Society of Women Engineers and serves on the Board of Directors for St. Francis Medical Center College of Nursing. Her appointment is effective December 1, 2007.

For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2006 sales and revenues of $41.517 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at http://www.cat.com/.

SAFE HARBOR

Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will" and "expect" or other similar words and phrases often identify forward-looking statements made on behalf of Caterpillar. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, changes in economic conditions; currency exchange or interest rates; political stability; market acceptance of the company's products and services; significant changes in the competitive environment; epidemic diseases; changes in law, regulations and tax rates; and other general economic, business and financing conditions and factors described in more detail in the company's Form 10-K filed with the Securities and Exchange Commission on February 23, 2007. This filing is available on our website at http://www.cat.com/sec_filings. We do not undertake to update our forward-looking statements.

Source: Caterpillar Inc.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.