Caterpillar Names New Chief Sustainability & Strategy Officer

Rhea-AI Summary

Caterpillar Inc. announces George Moubayed as Chief Sustainability and Strategy Officer.

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• George Moubayed, current senior vice president, will assume additional responsibilities as the Chief Sustainability and Strategy Officer, effective Jan. 1, 2024. This appointment highlights Caterpillar's focus on sustainability and long-term growth.

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IRVING, Texas, Oct. 13, 2023 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today that George Moubayed, current senior vice president of the Enterprise Strategy Division, will assume additional responsibilities as the Chief Sustainability and Strategy Officer, effective Jan. 1, 2024. Moubayed succeeds Chief Sustainability Officer Lou Balmer-Millar, who is retiring on Dec. 31, 2023, after over 20 years of dedicated service. In his capacity as Chief Sustainability Officer, Moubayed will report directly to Chairman and CEO Jim Umpleby.

"George has a breadth of enterprise perspective and experience in executing our strategy for long-term profitable growth," said Caterpillar Chairman and CEO Jim Umpleby. "Sustainability is an integral part of this strategy as we help our customers achieve their climate-related objectives and build a better, more sustainable world."

Moubayed has held several leadership positions in more than 25 years with Caterpillar. Prior to his role within the Enterprise Strategy Division, he was vice president and general manager of load and haul products for Resource Industries, and previously served as vice president for aftermarket solutions for the segment. He has a bachelor's degree in engineering from McGill University in Montreal, Canada.

About Caterpillar
With 2022 sales and revenues of $59.4 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

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SOURCE Caterpillar Inc.

FAQ

Who is the new Chief Sustainability and Strategy Officer of Caterpillar Inc.?

George Moubayed.

When will George Moubayed assume his new role?

Jan. 1, 2024.

Who is he succeeding in this position?

Lou Balmer-Millar.

When is Lou Balmer-Millar retiring?

Dec. 31, 2023.

What is the significance of this appointment?

It highlights Caterpillar's focus on sustainability and long-term growth.