Five Caterpillar officers have elected to retire at the end of 2001. As part of resulting organizational changes, the company is consolidating some operations and realigning responsibilities to improve efficiencies and sharpen focus in a number of areas.

Four new vice presidents have been elected by the Board of Directors. The total number of vice presidents is reduced by one.
Caterpillar Group President Gerald S. Flaherty is retiring December 31 after 42 years with the company. Group President James W. Owens will assume Flaherty's responsibilities, which include Product Support and Logistics, Component Products & Control Systems, Latin America and Human Services. He also retains responsibility for the Systems & Processes Division.
Douglas R. Oberhelman, currently a vice president with responsibility for Engine Products Division, has been named a group president. Oberhelman will assume Owens' former responsibilities, which include Legal Services, Financial Products, Shin Caterpillar Mitsubishi Ltd., Asia-Pacific, Corporate Auditing & Compliance and Corporate Services. In addition, he will have responsibility for a new purchasing and fabrications division.
Daniel M. Murphy, currently a vice president with responsibility for the Performance Engine Products Division, will head the new purchasing and fabrications division. The division will consolidate various purchasing functions and fabrication operations to achieve synergies in global cost reduction and supplier quality improvements as a key ingredient to achieving the company's cost reduction objectives.
Vice President Donald G. Western will assume Murphy's responsibilities for Performance Engine Products Division, in addition to his current responsibility for the Large Engine Products & Fuel Systems Division.
"Caterpillar's engine business is one of the fastest growing areas of the company and will benefit from consolidating manufacturing operational responsibilities under one vice president," said Caterpillar Chairman Glen Barton.
James J. Parker, director of the Electric Power Generation Product group, has been elected a vice president and will replace Oberhelman as head of Engine Products Division.
James E. Despain, vice president with responsibility for Track-Type Tractors Division, will retire Dec. 31 following 46 years of service. A.J. Rassi, currently vice president with responsibility for Human Services Division, will replace him.
Richard P. Lavin has been elected a vice president and will replace Rassi as head of Human Services Division. In a realignment of responsibilities, materials and procurement services will move from Human Services Division to the new purchasing division.
Michael A. Flexsenhar, vice president with responsibility for the Mining & Construction Equipment Division, will retire Dec. 31 after 36 years of service. Rod L. Bussell, currently general manager of the Large Engine Center in Lafayette, Ind., has been elected a vice president and will lead the Mining & Construction Equipment Division.
Sig R. Ramseyer, a vice president with responsibility for Asia-Pacific Division, will retire December 31 after 40 years with the company. Assuming responsibility for Asia-Pacific is Stu L. Levenick, currently a Caterpillar vice president and Chairman of Shin Caterpillar Mitsubishi Ltd.
Robert Rennie Atterbury III, a vice president with responsibility for the Legal Services Division, will retire Dec. 31 after 35 years of service. James B. Buda, associate general counsel in the United Kingdom, has been elected a vice president and will assume responsibility for Legal Services.
All of the new responsibilities are effective December 1.