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In The Marketplace
Caterpillar Financial Services Corporation of Nashville has announced the retirement of Executive Vice President Jim English, a 16-year Caterpillar veteran. In his capacity as executive vice president, he was the chief architect of CFSC's largest reorganization initiative to date. This effort culminated in the consolidation of U.S. regional offices and various headquarters departments into a centralized Customer Business Center.
In conjunction with English's retirement, the company has made the following appointments:
- Kent Adams will replace English as executive vice president for North American operations with responsibility for Caterpillar Financial Services Limited in Canada, the Customer Business Center, FCC and U.S. regional offices.
- Paulette Jackson has been named executive vice president with responsibility for information technology, human resources and several major projects.
- Ed Scott has been named executive vice president and chief financial officer with responsibility for accounting, business excellence, risk management, marketing and treasury.
- Ed Goodrich will replace Scott as vice president of diversified services with responsibility for global accounts, Latin America and the marine division.
Performance Logistics Group, Inc. of Wayne, MI, and Penske Truck Leasing Co., L.P. of Reading, PA have agreed to the terms of a transaction whereby PLG will acquire 100% of the stock of LAC Holding Corp., the holding company for Penske's interest in the Leaseway Auto Carrier group. As a result of the transaction, Penske will receive a significant minority interest in PLG, the parent of Performance Transportation Services, Inc. who, with its subsidiaries E. and L. Transport Company LLC, Hadley Auto Transport and Transportation Releasing, LLC, operates a nationwide automobile transportation business. E. and L. operates primarily in the north central United States, while Hadley operates primarily in the western United States. LAC provides finished vehicle transportation services for original equipment manufacturers in the United States, Canada and Puerto Rico.
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