January 15, 2020 - Caterpillar Inc. (NYSE: CAT) announced today that E. Jean Savage, currently vice president of the Surface Mining & Technology Division, has elected to retire.

E. Jean Savage

Earlier today, Trinity Industries, Inc. announced that Savage, a member of the company's Board of Directors, has been appointed Chief Executive Officer and President, effective February 17, 2020.

"We thank Jean for her 17 years of service to Caterpillar," said Denise Johnson, Resource Industries group president. "Jean has been instrumental in delivering Caterpillar mining products and services that are focused on accelerating customer benefits in safety and productivity. We appreciate all of her contributions and wish her well in her new role at Trinity Industries."

Savage joined Caterpillar in 2002 and held numerous leadership roles in Caterpillar's Progress Rail division, before being named vice president of Advanced Components and Systems division in 2014. Savage went on to lead the Innovation and Technology division before being named vice president of Surface Mining and Technology division in 2017.

Prior to joining Caterpillar, Savage worked for 14 years at Parker Hannifin Corporation, a leader in motion and control technologies and systems, where she held a variety of manufacturing and engineering positions. In addition, Savage served nine years in the Army Reserves as a military intelligence officer.

Savage graduated with 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.

Savage's retirement is effective February 14, 2020. A replacement will be named at a later date.