Crespo was appointed by the company’s board of directors to the role of Vice President and will join Caterpillar on August 16, 2010.
As Chief Procurement Officer, he will be responsible for the Global Purchasing Division.
Crespo currently serves as Vice President and Chief Procurement Officer for Honeywell International, a $31 billion company based in Morristown, New Jersey.
In his new position, Crespo will report to Group President Steve Wunning, who has responsibility for Resource Industries.
Commenting on the appointment, Wunning said: “We are fortunate to bring Frank on board with Caterpillar, and I know he will build on his proven track record of leadership, supply chain management and low cost country sourcing that will bring Caterpillar’s supply chain performance to the next level.
“He brings an extensive record of driving successful supplier collaboration, which is one of the nine key operating principles embedded in Caterpillar’s enterprise strategy,” he added.
Prior to joining Honeywell, Crespo was the Director of Global Category Management at Electronic Data Systems in Plano, Texas, where he created a global commodity management structure across each business unit.
Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
Edited by Chris Farnell