Peorita, Ill., USA - August 14, 2009, Peorita, Ill., USA - Caterpillar Inc. announced Vice President Sid Banwart will retire effective October 1, 2009, after more than 41 years with the company.
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Mr. 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. Mr. Banwart has been the vice president of Caterpillar's Human Services Division (HSD) since 2004. He 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.
Mr. Banwart 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. Mr. 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.
Mr. Banwart 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.
Greg Folley will replace Mr. Banwart as HSD vice president. Mr. 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. He is currently a vice president with responsibility for the Core Components Division. Mr. Folley will assume his new duties effective October 1, 2009. Mr. Folley 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.
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. Mr. 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. Mr. Bozeman will assume his new duties effective October 1, 2009.
Mr. Bozeman 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. Mr. Bozeman is on the Manufacturing and Industrial Engineering advisory board of directors for Bradley University. In addition, he is a member of the National Society of Black Engineers and the National Black MBA Association.
Caterpillar also announced today that Tom Gales, vice president with responsibility for Caterpillar's Latin America Division, will retire effective November 1, 2009. Mr. 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. Mr. Gales remained in his position to ensure an effective transition.
Mr. 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. Mr. Gales 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. ■