Caterpillar has announced its choices for two company leadership roles with Andrew Bonfield tapped as the company’s next chief financial officer and Steve Ferguson as the next vice president of Industrial Power Systems.
Bonfield, a British utilities company executive will take over the CFO role September 1. The Caterpillar board of directors appointed Bonfield following the retirement of Brad Halverson on Friday, May 4.
With more than three decades of financial expertise, Bonfield most recently served as group CFO and board member of National Grid, a British multinational electricity and gas utility company. Caterpillar says it conducted an extensive global search to fill the CFO position.
“Andrew’s global financial experience across a variety of industries will serve Caterpillar and our stakeholders well,” says CEO Jim Umpleby. “We look forward to him joining our executive office.”
Before Bonfield’s eight years at National Grid, he was CFO at British confectionary company Cadbury. From 2002 to 2008, he was executive vice president and CFO of Bristol-Myers Squibb pharmaceutical company.
His experience also includes serving as finance director of BG Group plc and CFO of Smithkline Beecham. And since 2010, Bonfield has been a non-executive director and chair of the audit committee of British retailer Kingfisher.
Bonfield also chairs the 100 Group, which represents finance directors of the top 100 U.K. companies listed on the London Stock Exchange (LDNXF).
