Caterpillar Inc. last week announced vice president Sid Banwart will retire effective Oct. 1, after more than 41 years with the company. Banwart has been the vice president of Caterpillar’s Human Services Division 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 CEO Jim Owens. “Sid’s leadership has been crucial to the success we have made in improving employee engagement over the last five years.”
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 Oct. 1.
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. Bozeman joined Caterpillar in 2008. Prior to joining Caterpillar, he was vice president, Advanced Manufacturing, Harley-Davidson Motor Co.
Caterpillar also announced that Tom Gales, vice president with responsibility for Caterpillar’s Latin America Division, will retire effective Nov. 1. 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.
Peoria, Ill.-based Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.