PEORIA, Ill., Aug. 14 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT) today announced Vice President Sid Banwart will retire effective October 1, 2009, after more than 41 years with the company. Banwart has been the vice president of Caterpillar's Human Services Division (HSD) since 2004. The division has global responsibility for corporate human resources, compensation and benefits, diversity, public affairs, Caterpillar University, and safety and sustainability initiatives. "The people of Caterpillar are the most important asset we have," said Caterpillar Chairman and Chief Executive Officer Jim Owens. "Sid's leadership has been crucial to the success we have made in improving employee engagement over the last five years. On behalf of all of Team Caterpillar, I want to thank Sid for his contributions to Caterpillar over more than 41 years. We wish him well during his retirement," Owens added. Banwart, 64, joined Caterpillar in 1968 as a development engineer. He held a variety of engineering and management positions until 1986 when he became the manager of Quality Control and Engineering and manager of Technical Services for the Caterpillar subsidiary in Mexico. He later became the quality control manager at the Aurora, Illinois, facility and took assignments in Decatur, Illinois, as technical services manager and product manager for motor graders. Banwart became general manager of the Large Engine Center in Lafayette, Indiana, in 1995. He was elected a vice president in October 1997 and led the company's Technical Services Division. He assumed responsibility for the Component Products Division in 1998 and was named as Caterpillar's first chief information officer and head of the new Systems + Processes Division in 2000. Banwart holds a bachelor's degree in chemical engineering from Iowa State University and an executive MBA from the University of Illinois. He graduated from Duke University's Advanced Management Program, the Business & Public Policy Program at Brookings Institute and the Aspen Institute Leadership Program. He is a member of the National Academy of HR, serves on the board of directors for the HR Policy Association in Washington, D.C., and the board of directors for The Weitz Company. In the Peoria area, he has been active in a number of organizations and currently serves on the board of the Fayette Companies and chairs the boards for the Heartland Partnership and the Peoria Symphony Foundation. New responsibilities for Greg Folley Greg Folley will replace Banwart as HSD vice president. Folley is currently a vice president with responsibility for the Core Components Division. Folley will assume his new duties effective October 1, 2009. "With his previous experience and background, Greg is an ideal fit for HSD as we navigate the company through this challenging financial period while still building the foundation of future leaders at Caterpillar," Owens said. Folley, 50, joined Caterpillar in 1995 as a senior labor relations consultant. Before being named an officer of the company, he was general manager of the Specialty Products Business Unit within the Motion & Power Control Division. He has held various roles in human resources and served as director of Compensation + Benefits. Prior to joining Caterpillar, Folley practiced labor and employment law for 11 years. Folley holds both a bachelor of arts degree in economics and a juris doctor degree from the University of Notre Dame. He also completed the Stanford Executive Program. Folley has served on the board of Catholic Charities and is a member of the Illinois, Indiana, Wisconsin, North Carolina and Texas State Bars. David Bozeman named Vice President Caterpillar's Board of Directors has appointed David Bozeman, currently business unit manager, Core Components Division, as vice president with responsibility for the Core Components Division. Bozeman will assume his new duties effective October 1, 2009. Bozeman, 41, joined Caterpillar in 2008. Prior to joining Caterpillar, he was vice president, Advanced Manufacturing, Harley-Davidson Motor Company. During his career with Harley-Davidson, Bozeman held a series of progressively more responsible positions with the company in the areas of engineering, manufacturing and quality. "We were fortunate to bring David on board with Caterpillar last year, and I know he will build on his proven track record of leadership in the areas of manufacturing and quality for our Core Components Division," Owens said. Bozeman holds a bachelor's degree in manufacturing engineering technology/mechanical design from Bradley University and a master's degree in engineering management from the Milwaukee School of Engineering. He has completed the University of Chicago School of Business Executive Finance Course and the Massachusetts Institute of Technology "Win-Win Negotiations" course. Bozeman is on the Manufacturing and Industrial Engineering advisory board of directors for Bradley University. Locally, he has also been appointed to serve on the inaugural board of directors for the Peoria Riverfront Museum. In addition, Bozeman is a member of the National Society of Black Engineers and the National Black MBA Association. Gales retirement date announced Caterpillar also announced today that Tom Gales, vice president with responsibility for Caterpillar's Latin America Division, will retire effective November 1, 2009. Gales' retirement had previously been announced in 2008 when Caterpillar outlined a new strategy for its marketing organizations. As part of that strategy, Caterpillar has transitioned to an Americas Distribution Services Division that includes both North and South America, led by Jim Parker. Gales remained in his position to ensure an effective transition. "Over the course of his nearly 40-year career with Caterpillar, Tom developed very strong relationships with our Latin American dealerships, and his leadership has been critical to the company's long-term success in this important region of the world," Owens said. "We wish him well in retirement." Gales, 60, joined Caterpillar as a sales development trainee in 1970. He spent the next 30 years in various positions, including marketing assignments in South America and the United States, president and general manager of Cat Mexico and product manager of various machine groups. From 1998 to 2000, Gales served as managing director of Caterpillar France. He was elected an officer in 2000, first leading the Product Support Division in Peoria before beginning his current role in 2002. Gales graduated from the University of Wisconsin-Milwaukee with a degree in marketing and completed his master's degree in management at the Massachusetts Institute of Technology (MIT), where he was a Sloan Fellow. Gales is a member of the Brazil-U.S. Business Council and served for six years on the board of directors of the Pan American Development Foundation in Washington, D.C. He continues to serve on the advisory board for the Pan American Development Foundation. About Caterpillar: For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2008 sales and revenues of $51.324 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/. DATASOURCE: Caterpillar Inc. CONTACT: Bridget M. Young, Corporate Public Affairs of Caterpillar Inc., +1-309-675-8463, Web Site: http://www.cat.com/

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