Caterpillar combining two divisions


Caterpillar Inc. said it will combine two divisions dealing with power and energy, a plan the company will fully execute by June.

The company will create a new electric power, marine, and oil and gas division by consolidating the electric power with the marine and petroleum power divisions.

"Consolidating these energy operations, along with the recently announced integration of two divisions within customer and dealer support, will bring efficiencies and a streamlined leadership team. With these changes we will have reduced executive leadership by 13 percent since 2013," Caterpillar chairman and CEO Doug Oberholman said in a statement.

Steve Niehaus, vice president of the electric power division, will retire after a 27-year career with the manufacturer.

“Much of Steve’s career has been spent in marketing and commercial engines, and in his most recent position he has provided critical leadership in strengthening and aggressively growing Caterpillar’s electric power business,” said Jim Umpleby, Caterpillar group president responsible for energy and transportation.

“He has lived all over the world helping our customers and employees develop and grow — from Saudi Arabia to Brazil to Singapore and throughout the United States. I’m grateful to Steve for his many contributions to Caterpillar and wish him well in retirement.”

Last year Caterpillar said it would consolidate and could lay off as many as 10,000 employees by 2018.


NMMA Confirms Industry Growth

NMMA president Frank Hugelmeyer said the boating business grew 12 percent last year during yesterday’s virtual State of the Boating Industry address.

Newport Show Dates Announced

Organizers are planning for an in-person Golden Anniversary edition of the show Sept. 16-19.

Quick Hits: March 5, 2021

The National Association of Manufacturers names Brunswick Corp. CFO Ryan Gwillim to its Board of Directors.

Caught Red-Handed

Two commercial fishermen were jailed for possessing an illegal haul that included 100 undersized lobster tails, which is a felony. Also, fisheries management gets new funding.

Bennington Expands Operations

The pontoon builder plans to add jobs at its new facility in Elkhart County, Ind., and increase manufacturing output.

KVH Industries Names CFO

Longtime telecom financial executive Roger A. Kuebel assumes the position that COO Brent Bruun had held in an interim capacity.