Boston, MA 06/03/2014 (wallstreetpr) – Caterpillar Inc. (NYSE:CAT) announced that its chief information officer, Randy Krotowski, voluntarily resigned to pursue personal opportunities. The company has announced immediate launch of a global hunt for a replacement. Mr. Krotowski formally ended his employment with Caterpillar on Sunday, June 1, 2014.
The company described Mr. Krotowski as a highly-experienced professional in the field of information technology. Head of Caterpillar corporate services, Brad Halverson, said the company wishes Mr. Krotowski well in his future endeavors.
The exit of Mr. Krotowski from the important position of information management at Caterpillar Inc. (NYSE:CAT) comes a time when U.S. companies are increasing their focus on data security to guard against the widespread cyber threats in recent times.
The cyber attacks not only put the reputation of a company at stake, but can also lead to untold financial losses in the form of settlements and penalties. The retailer Target Corporation (NYSE:TGT) is currently under fire following the breach of its data security during the holiday shopping period late last year. The breach of the company’s data system led to the loss of millions of credit card details and personal information.
The retailer, last week, wrote to the U.S. Securities Exchange Commission saying that it feared widespread lawsuits from the affected customers and disputes with credit card companies the service its electronic payments system.
Although Caterpillar Inc. (NYSE:CAT) does not operate in the retailer industry, which has witnessed widespread cyber attacks in recent times, the company needs to build a solid data security system to protect its own trade secrets and customer information.
Discussing Company Progress
Caterpillar Inc. (NYSE:CAT) needs investor confidence to achieve its big dreams for growth. As such, the company announced that its Director of Investor Relations, Rich Moore, will present at the Deutsche Bank Global Industrial conference on Wednesday, June 4. The executive is expected to discuss the company’s progress, opportunities and possible challenges.
Performance Expectation
Perhaps the upcoming presentation would see Caterpillar Inc. (NYSE:CAT) justifying its recently updated performance expectations. The company expects 2014 revenue to hit 56 billion with a margin of plus or minus 5 percent.
