Perkins Engines Co. Ltd. has named Steve Fergusin president of the company. His appointment was announced by Ramin Younessi, who had been Perkins president since 2013 and is now promoted to group president of Caterpillar’s Energy & Transportation segment.

“Steve has been delivering great results by driving lean and flexible cost-competitive component manufacturing operations at Caterpillar facilities around the world,” Younessi said. “Combined with his business and finance background, focus on safety and quality, and ability to connect with customers, Steve will provide exemplary leadership for this exciting and diverse group.”

In addition to his role as Perkins president, Ferguson will lead the Caterpillar Industrial Power Systems Division, which consists of design, development and sales of all engines (18 litres and below), retail generators and Caterpillar Defense – spanning the three globally recognized brands of Cat, Perkins and FG Wilson.

Most recently, Ferguson has been general manager of Caterpillar’s Advanced Component Manufacturing business, overseeing operations at 15 global facilities. He began his career with Caterpillar as an accountant in 1990 and held positions of increasing responsibility in both machine and engine divisions including roles in pricing, business planning, financial analysis, and business resource segments. He holds a bachelor’s degree from Eastern Illinois University and is a graduate of the Advanced Executive Program at Northwestern University’s Kellogg School of Management.

Younessi joined Caterpillar in 2013 to lead IPSD, bringing more than 25 years of outside senior leadership experience. Previous executive responsibility included product development, quality, purchasing and product planning with Navistar, as well as product development and planning for Daimler AG’s commercial vehicle division. Younessi has a bachelor’s degree in electrical engineering from the Rochester Institute of Technology and master’s degrees from Syracuse University and the University of Maryland.

In his new role as a Caterpillar Group President, Younessi will lead Caterpillar's Energy & Transportation group that includes Marine & Petroleum Power, Progress Rail Services, Electric Power, Solar Turbines, Industrial Power Systems and Large Power Systems.

Both the appointment of Ferguson as Perkins president and IPSD vice president, and Younessi’s appointment as group vice president were made by the Caterpillar board of directors.