Caterpillar Names New Chief Sustainability Officer
Balmer-Millar succeeds Julie Lagacy, who was Caterpillar's first Chief Sustainability & Strategy officer and is retiring February 1, 2023, after nearly 35 years of dedicated service.
IRVING, Texas, Dec. 20, 2022 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today that Dr. Lou Balmer-Millar will assume responsibility for the Chief Sustainability Officer role in addition to her current responsibility as Senior Vice President of the Large Power Systems Division within the Energy and Transportation segment. Balmer-Millar succeeds Julie Lagacy, who was Caterpillar's first Chief Sustainability & Strategy officer and is retiring February 1, 2023, after nearly 35 years of dedicated service. In her capacity as Chief Sustainability Officer, Balmer-Millar will report directly to Chairman and CEO Jim Umpleby.
"Sustainability is an important focus area of our long-term strategy for profitable growth," said Caterpillar Chairman and CEO Jim Umpleby. "Building on her role in Caterpillar's Energy & Transportation segment, this move further enhances the advancement of product solutions to support our customers during the energy transition and help them achieve their climate-related objectives by geography, by application and by specific customer need. We remain committed to helping our customers build a better, more sustainable world."
Balmer-Millar has held several technical and business leadership positions of increased scope and responsibility over her 20-year career with Caterpillar. Prior to joining the company, she led materials and chemical engineering research efforts at the Environmental Molecular Science Laboratory of the Pacific Northwest National Laboratory. Balmer-Millar has a Ph.D. in Materials Science from the University of California, Santa Barbara and a Bachelor of Science in engineering from The Pennsylvania State University.
Balmer-Millar will work with Lagacy to transition to the role in the first quarter of 2023.
About Caterpillar
With 2021 sales and revenues of $51.0 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.
Forward-Looking Statements
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SOURCE Caterpillar Inc.
