Caterpillar Inc.’s Group President and CFO Brad Halverson elected to retire in early 2018.
Halverson first joined Caterpillar in 1988 as an accountant, according to the company. As the company’s CFO, he manages its Finance Services Division, Human Services Division, Global Information Services, Financial Products Division, Global Supply Network Division and Corporate Auditing. Prior to this position, Halverson served for two years as vice president of its Finance Services Division, and before that he was the company’s corporate controller.
“As a second generation Caterpillar employee, Brad’s roots began well before he joined the company,” says Caterpillar CEO Jim Umpleby. “On behalf of the extended Caterpillar family, I want to thank him for his many years of service. Brad assumed the CFO role just as we faced an unprecedented downturn in our business. The company undertook significant restructuring in response to the downturn, and Brad played a critical role in that process, helping the company maintain a strong balance sheet and good cash flow.”
Caterpillar plans to launch a global, external search to fill the CFO position. According to Caterpillar, Halverson’s decision to continue working into early 2018 will help to ensure a smooth transition for the CFO position.
“I’ve had a great career with Caterpillar, and I’m blessed and fortunate to be in a position to retire and spend more time with my family,” Halverson adds. “I will remain active in community events and will continue to support various Peoria area charities and organizations that are important to me and my family.”
