Summary
This Form 8-K filing by Caterpillar Inc. (CAT) announces a significant leadership transition within its finance department. Effective June 1, 2010, David B. Burritt will retire as Vice President and Chief Financial Officer (CFO). Mr. Burritt will remain with the company in a transitional support role until October 1, 2010, ensuring a smooth handover of responsibilities. To fill this critical role, the Board of Directors has elected Edward J. Rapp, currently a Group President, as the new Chief Financial Officer, also effective June 1, 2010. Mr. Rapp brings extensive experience from his previous leadership positions within Caterpillar, including his tenure as Group President since 2007 and Vice President of the Building Construction Products Division from 2004 to 2007. This change signals continuity and an internal promotion for a seasoned executive.
Key Highlights
- 1David B. Burritt, current VP and CFO, will retire effective June 1, 2010.
- 2Mr. Burritt will provide transitional support as an employee until October 1, 2010.
- 3Edward J. Rapp, Group President, has been elected as the new Chief Financial Officer.
- 4Mr. Rapp's appointment as CFO is effective June 1, 2010.
- 5Mr. Rapp has held significant leadership roles at Caterpillar since 2004.
- 6The filing includes a press release dated May 5, 2010, as an exhibit.