Caterpillar announces promotions in Rail Division

Written by Kyra Senese, managing editor
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Billy Ainsworth, current senior vice president of the Caterpillar Rail Division and CEO of Progress Rail, will become the group president of Energy & Transportation, effective March 1, 2019.

Caterpillar Inc. this week announced several personnel changes, including two senior appointments that will be effective March 1.

“These organizational changes will facilitate the acceleration of our strategy for continued profitable growth,” said Caterpillar Chairman and CEO Jim Umpleby.

Billy Ainsworth, Caterpillar’s current Rail Division senior vice president and CEO of Progress Rail, will now serve as group president of the Energy & Transportation segment. Ainsworth has served as a strategic advisor to the Caterpillar Executive Office in addition to carrying out his responsibilities for the Rail Division since 2017.

“Billy’s customer focus, entrepreneurial background and deep aftermarket experience will continue to benefit the Energy & Transportation business,” Umpleby said.

Caterpillar also explained that the company is separating its current Global Power Systems Divisions into two new industry focused divisions: Oil, Gas and Marine Division and Electric Power Division. The company said this move is intended to better serve customers.

Caterpillar’s board of directors also appointed Marty Haycraft to succeed Ainsworth as vice president of Caterpillar’s Rail Division and CEO of Progress Rail.

Haycraft presently serves as the president of Progress Rail’s global operations, where his primary responsibilities entail managing the company’s rolling stock and infrastructure businesses.

Officials said Haycraft’s professional career started in 1990 with Wheel Corporation of America, where he worked as a production employee and gained experience on freight car wheel set production and freight car wheel set materials.

He joined Progress Rail in 1993 when Corbin Railway Services purchased Steel Processing Services, which later became Progress Rail. Haycraft rose through the company’s ranks, gaining experience in several positions, including operations, materials management and sales and marketing management roles.

Haycraft is an alumnus of the University of Louisville in Kentucky and completed an accounting degree at Phoenix University, Caterpillar explained.

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