Cat Product Development VP Retires

Caterpillar Inc. has announced that Gwenne Henricks, vice president with responsibility for the Product Development & Global Technology Division (PD), is retiring from Caterpillar Inc.  Henricks has spent the last four years leading the company’s R&D and technology strategies.

Since joining Caterpillar in 1981, Henricks held numerous product development, management and business leadership positions before being named vice president with responsibility for the Electronics and Connected Worksite Division in 2007. She then became vice president with responsibility for the Industrial Power Systems Division before the board of directors named her to her most recent position in 2012.

As a result of the retirement, Cat said it will form a single research, technology and product development group. Current Advanced Component & System Division (ACSD) Vice President Jean Savage will lead this newly formed team of ACSD and PD employees.  The manufacturing functions within ACSD will be led by current ACSD Operations General Manager Steve Ferguson, who will report directly to Resource Industries Group President Denise Johnson.

Savage, who joined Caterpillar subsidiary Progress Rail Services (PRS) in 2002, has  experience in engineering and manufacturing with PRS and Caterpillar.  She has a bachelor’s degree in electrical and computer engineering from the University of Cincinnati and a master’s degree in engineering management from the University of Dayton.

“Jean’s role in leading the formation and development of this new organization will be critical in establishing how Caterpillar accelerates our global research, technology and product development strategies,” said Johnson. “The creation of this division will also deliver necessary efficiencies, which does mean continued and significant workforce reductions. While difficult, the streamlining at all levels of the company, including within the officer ranks, is necessary given the global market environment that is impacting the company’s business.”