Caterpillar’s board of directors has announced that Steve Ferguson will replace Ramin Younessi as vice president from 1 June 2018. He will lead the Industrial Power Systems Division which consists of all engines 18 litres and below, retail generators and Caterpillar Defence.
Ferguson was previously general manager of the company’s advanced component manufacturing business. He started his career with Caterpillar as an accountant in 1990 and has held positions in pricing, financial analysis and business resource. In addition, Ferguson was based in Singapore from 2011 to 2015 as a senior business resources manager for the excavation division and then as chief financial officer for the construction industries division.
Ramin Younessi, incoming Caterpillar, president of energy and transportation, said: “Steve has been delivering great results by driving lean and flexible cost-competitive component manufacturing operations at Caterpillar facilities around the world – experience that will be an excellent fit for his new role leading IPSD.”