Caterpillar announced a major executive transition in its Construction Industries segment, confirming that Group President Tony Fassino will retire after 30 years, with company veteran Rod Shurman named as his successor.
- Fassino's retirement is effective May 31, 2026.
- Shurman will officially take the helm of the segment, which includes the Earthmoving and Excavation divisions, starting February 1, 2026.
- The transition is a planned succession, cited by CEO Joe Creed as preparing Shurman to guide the segment "into its next chapter."