Caterpillar announces executive retirements, appointments

Levenick is a Caterpillar group president with responsibility for
Customer & Dealer Support. Wunning is group president with
responsibility for Resource Industries. Both retirements will be
effective in early 2015. Caterpillar also announced that its Board of
Directors has appointed current Group President Ed Rapp, 57, as
Wunning’s replacement. Tom Pellette, 51, currently a Caterpillar vice
president and president of Solar Turbines Inc., has been promoted and
will replace Rapp as group president with responsibility for
Construction Industries, and will be relocating from San Diego,
California, to Peoria, Illinois. Rob Charter, 51, currently vice
president with responsibility for the Excavation Division, has been
promoted and will replace Levenick as group president with
responsibility for Customer & Dealer Support, relocating from
Singapore to Peoria, Illinois.

“For the last 10 years, Stu and Steve have both provided critical
leadership as part of Caterpillar’s Executive Office (EO), capping
Caterpillar careers that together total nearly 80 years of service,”
said Caterpillar Chairman and CEO Doug Oberhelman. “We will all miss
their outstanding leadership, and both leave unique and lasting legacies
within Caterpillar, as the company has transformed itself and
dramatically expanded to serve new markets and industries over the
course of their distinguished careers. In the coming years, I look
forward to working with Rob, Tom and the rest of Caterpillar’s
leadership team as we continue our drive toward improving performance,
growing the company, focusing on the customer and delivering our
strategic goals over the next several years,” Oberhelman added.

Stu Levenick Retirement

“Caterpillar’s independent dealer network is one of the company’s key
competitive advantages, and I can’t think of anyone who has done more
to strengthen and deepen the relationship between Caterpillar and its
global dealer network than Stu,” Oberhelman said. “Most recently, as the
architect of our Across the Table dealer transformation, his strategic
leadership has been instrumental in ensuring that the alignment between
Caterpillar and its dealers will only grow stronger. In addition, Stu
was the key executive that drove our acquisition and integration of Shin
Caterpillar Mitsubishi, the former joint venture in Japan, that is now a
fully integrated part of Caterpillar,” Oberhelman said.

Levenick joined Caterpillar as a sales and marketing development
representative in 1977. After serving in various management positions in
marketing, commercial management and product source planning, he became
a division manager in 1989, regional manager for Cat Asia Pte. Ltd.
based in Singapore in 1995 and general manager for company operations in
the Commonwealth of Independent States (CIS) based in Moscow in 1998.

Prior to becoming a group president, he was based in Tokyo and served
as vice president with responsibility for Caterpillar's Asia Pacific
Division and chairman of Shin Caterpillar Mitsubishi Ltd. (SCM),
formerly a Tokyo, Japan-based joint venture between Caterpillar and
Mitsubishi Heavy Industries Ltd., now Caterpillar Japan Ltd.

Levenick graduated from the University of Illinois with a Bachelor of
Science degree in forestry and is a Sloan Fellow with a Master of
Science degree in management from the Massachusetts Institute of
Technology.

He is a member of the board of directors of Entergy Corporation, New
Orleans, Louisiana; W. W. Grainger, Inc., Lake Forest, Illinois;
executive board member of the U.S. Chamber of Commerce; and 2012
chairman of the Association of Equipment Manufacturers, Washington, D.C.
He is also affiliated with the University of Illinois Foundation.

Steve Wunning Retirement

“In a Caterpillar career spanning 41 years of outstanding service,
Steve played a crucial role in the development and success of Cat
Logistics and our product support business,” said Oberhelman. “In
addition, Steve’s executive leadership and long-term vision was critical
to Caterpillar’s largest ever acquisition in 2011, the purchase of
Bucyrus International. That acquisition positions Caterpillar with an
unmatched industry-leading range of surface and underground mining
products and solutions for global mining customers. It’s no secret the
mining industry has gone through a tough period the last couple years.
In the face of that challenging environment, Steve has provided
outstanding leadership and guidance for our global mining employees,
dealers and customers, and his acute focus on cost management will have
us ready for the mining upturn,” Oberhelman added.

Since joining Caterpillar in 1973, Wunning has had assignments of
increasing responsibility in manufacturing, quality, product support and
logistics. As one of the first employees and leaders of Cat Logistics
in 1987, Steve capitalized on Caterpillar's expertise in logistics to
provide services to other companies around the world. Steve was named
vice president of Cat Logistics in 1990 and president in 1994, ushering
in a period of unprecedented growth for the business. In 1998, Wunning
was named corporate vice president with responsibility for the Logistics
and Product Services Division. In 2000, he became vice president with
responsibility for Cat Logistics, which combined all of the internal
Caterpillar and external client logistics operations into a single unit.
In 2004, the Caterpillar Board of Directors named Wunning a group
president.

Wunning has a bachelor's degree from the University of Missouri Rolla
– now Missouri University of Science and Technology – and an Executive
MBA from the University of Illinois. Wunning serves on the following
boards: Manufacturers Alliance/MAPI, Black & Veatch Holding Company,
Kennametal Inc., American Red Cross, National Mining Association and
Missouri University of Science and Technology.

Ed Rapp Becomes Group President with responsibility for Resource Industries

Caterpillar’s Board of Directors has approved changes in
responsibility for Group President Ed Rapp, who currently oversees
Construction Industries. Rapp will replace Wunning as group president
with responsibility for Resource Industries, effective January 1, 2015.
He will relocate from Singapore to Peoria.

“Ed has led the reinvigoration around the world of our construction
business, which has resulted in improved profitability and performance
in recent years,” said Oberhelman. “He’s also provided outstanding
leadership in developing a strong core of local leaders across the Asia
Pacific region, setting the stage for our future growth and success in
that part of the world.”

Rapp has been a member of Caterpillar’s executive office since 2007,
and he served as group president and CFO from mid-2010 until 2013 when
he assumed his current role as group president with responsibility for
Construction Industries. He was named a Caterpillar vice president in
2000, serving as the head of the EAME Marketing Division until 2004 when
he was named vice president with responsibility for the Building
Construction Products Division.

Rapp joined Caterpillar as a pricing analyst in 1979. Over the next
several years, he held positions with increasing responsibility related
to pricing, production scheduling, marketing, dealer development,
manufacturing and product development. In the 1990s, he held positions
as a district manager in San Francisco, the area manager in
Johannesburg, South Africa, and then held several senior positions in
Geneva, Switzerland, before being named vice president with
responsibility for EAME Marketing in 2000.

Rapp has a bachelor’s degree in finance from the University of
Missouri-Columbia and is a graduate of the University of Illinois
Executive Development program.

He is a member of the board of directors of Abbvie, FMGlobal and
Junior Achievement USA. Rapp is also a member of the University of
Missouri College of Business Strategic Development Board.

Rob Charter Appointed as Group President

Caterpillar’s Board of Directors has elected Rob Charter, currently a
Caterpillar vice president with responsibility for the Excavation
Division, as group president with responsibility for Customer &
Dealer Support, replacing Levenick. The move will be effective January
1, 2015.

“Rob brings deep knowledge and experience working with our dealer
network and is known within the company for his intense focus on helping
Caterpillar customers be more successful with our products and services
than they can be with any competitive offering,” Oberhelman said. “This
focus on customer satisfaction, combined with Rob’s extensive global
experience – much of that in leadership positions – over the last 25
years makes him ideally suited for this new role.”

Charter, a native of Adelaide, Australia, joined Caterpillar in 1989
as a development engineer in Melbourne. He has vast experience working
closely with Caterpillar dealers, including those in Australia, Asia and
Latin America. His diverse experience also includes product management,
most notably his role as product manager in Tokyo, as well as service
training, machine sales and service, mining product support,
manufacturing, construction, quarry and forestry. In 2005, he was
appointed southern region manager in Caterpillar’s Latin America
Division, a position he held until 2008. In 2008, the Caterpillar Board
of Directors named Charter to vice president with responsibility for the
Asia Pacific Distribution Services Division. He held this position
until January 2013 when he was appointed as vice president with
responsibility for the Excavation Division.

Charter holds a bachelor’s degree in mechanical engineering from
Ballarat University in Victoria, Australia, and has completed the
Stanford University Executive Program.

Tom Pellette Appointed as Group President

Caterpillar’s Board of Directors has elected Tom Pellette, currently a
Caterpillar vice president and the president of Solar Turbines Inc., a
wholly owned subsidiary of Caterpillar Inc., as group president with
responsibility for Construction Industries, replacing Rapp. His move
will be effective January 1, 2015.

“During his more than two decades with Solar, Tom has held senior
leadership positions in Asia, Europe and North America, with half of his
Caterpillar career spent outside of the United States. His demonstrated
global perspective, drive for accountability and uncompromising product
quality standards, combined with a strong customer focus will position
him well to serve our construction business,” Oberhelman said.

Since joining Solar in 1993, Pellette has held a range of sales,
engineering and product support positions with increasing
responsibility, including significant experience in leadership positions
in Europe, Asia and the U.S. Prior to joining Solar, Pellette worked
for Tennessee Gas and Leybold Technologies.

In 2012, the Caterpillar Board of Directors named Pellette a
Caterpillar vice president and the president of Solar Turbines.
Pellette, a native of Los Alamos, N.M., graduated in 1985 from Rice
University with a bachelor's degree in mechanical engineering.

Pellette will join the other members of the EO based in the company’s headquarters in Peoria, Illinois.

“Over the last several years, Caterpillar based an EO member in Asia
to intensify our focus on the region. We have three vice presidents
in-region and a very strong senior local leadership team across Asia
Pacific,” said Oberhelman. “They will continue to build on the great
progress we have made in building out our business model in China, fully
integrating Cat Japan and building on our market position in the
region," Oberhelman said.

For more information

www.caterpillar.com