New Group Presidents For Cat Engines, Construction Equipment

20 October 2020

Caterpillar Inc. announced changes to its Executive Office including a move at the top of the division that oversees its engine operations, as well as its main machinery group.

Group Presidents William (Billy) P. Ainsworth and Ramin Younessi will retire at year-end 2020.  Joseph (Joe) E. Creed and Anthony (Tony) D. Fassino, respectively, will step into those positions effective January 1, 2021.

Energy & Transportation

Ainsworth is currently the group president of Cat’s Energy & Transportation (E&T) segment, which includes the Rail Division, Solar Turbines,

New Cat engine prez
Joseph (Joe) E. Creed will become president of Caterpillar’s Energy & Transportation segment, encompassing almost all of the company’s engine operations.

Large Power Systems Division, Industrial Power Systems Division, Electric Power Division (EPD) and Caterpillar Oil & Gas and Marine Division (COGMD).

Creed is the new group president of E&T. He is currently vice president of the Caterpillar Oil & Gas and Marine and Electric Power Divisions. Creed joined Caterpillar in 1997 and has held numerous accounting and finance positions across multiple divisions of Caterpillar. He was promoted to vice president of Caterpillar’s Finance Services Division in 2017, served as interim chief financial officer in 2018 and became vice president of COGMD in 2019. He assumed EPD responsibility in 2020.

Ainsworth joined the company as a vice president in 2006 when Caterpillar Inc. acquired his company, Progress Rail Services. In 2017, he became a senior vice president and strategic advisor to the Executive Office, in addition to his responsibilities for the Rail Division. He was appointed group president of E&T in 2019.

“Joe’s extensive financial expertise across our engine and machine businesses combined with his recent role leading our oil & gas, marine and electric power divisions position him well to lead E&T, grow services and contribute to our customers’ continued success,” said Caterpillar Chairman and CEO Jim Umpleby.

Construction Industries

Currently vice president of the Building Construction Products Division (BCP), Fassino will succeed Younessi as group president of the

Fassino new Cat president
Currently vice president of the Building Construction Products Division (BCP), Tony Fassino will become group president of Caterpillar Construction Industries.

Construction Industries (CI). CI includes the Earthmoving, Excavation, (BCP), China Operations, Global Construction & Infrastructure and Strategic Procurement Divisions, as well as Global Rental and Used Equipment Services.

After joining Caterpillar in 1996, Fassino held a variety of positions around the world, including several sales and technical field assignments in the U.S. and Canada as well as the new product introduction manager for excavators in Japan. He led the Eastern U.S. Region Distribution Services team and served as director of Caterpillar Worldwide Forest Products before becoming the vice president of BCP in 2018.

Younessi joined Caterpillar in 2013 after serving in several executive and senior leadership positions with Daimler AG and Navistar Inc. Prior to his appointment as group president, Younessi was vice president of Caterpillar’s Industrial Power Systems Division. He was appointed group president of Caterpillar’s E&T segment in 2018, and in 2019 he became group president of CI.

“Tony’s strong product knowledge, commitment to operational excellence and experience working with Caterpillar’s dealer network make him ideally suited to lead our CI segment,” said Umpleby. “He will focus on accelerating services growth while making our customers more successful.”

“Ramin successfully leveraged his extensive global business experience in the commercial vehicle and engine industries to help us improve Caterpillar’s competitive and flexible cost structure,” said Umpleby. “His engineering and supply chain expertise has had a positive impact on the enterprise.”



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up


The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Josh Kunz Power Progress Brand Manager Tel: +1 414 379 2672 E-mail: [email protected]
Roberta Prandi Power Progress International Brand Manager Tel: +39 334 6538183 E-mail: [email protected]
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: [email protected]