Caterpillar Reports Retirement of Three Vice Presidents

Shares of Caterpillar were up almost 1% pre-market Friday after the company said late Thursday that three vice presidents have decided to retire and that it has appointed two new vice presidents and is launching a search for a third.

The construction equipment company also unveiled organizational changes that will result in the creation of two new divisions. Caterpillar said it is forming these new divisions to drive greater efficiencies and effectiveness in support of its customers. The new divisions will be called Product Support & Logistics division and Digital Enabled Solutions division.

By Bucky Rini