Denise Johnson is stepping down as president of Caterpillar’s Resource Industries after a decade in the job. The US-based machinery giant said Johnson oversaw a return to segment profitability after a “historic” mining downturn at the start of her time in charge and then steered RI to its “strongest financial performance in more than a decade”.
Johnson has led the expansion of Caterpillar’s mining technology business, including last year’s US$730 million acquisition of Australia’s RPMGlobal.
She told analysts at a Caterpillar investor day last November the company was “doubling down on our role as an advanced technology leader, with rapidly growing autonomy, and expanding our technology suite with something we’re calling precision mining”.
“Our vision is to build an ecosystem of products and services enabled by technology to help our customers become safer, more productive, efficient and lower their total cost per tonne,” Johnson said. That included more M&A.
Johnson is handing the baton to Derrick York, currently president of Caterpillar’s solar turbines arm and a senior company vice-president. She will continue after November 1 as an adviser through to her retirement next February.
“Denise took on a critical role during one of the mining industry’s most challenging times,” Caterpillar CEO Joe Creed said.
“Her disciplined leadership restored Resource Industries to profitability and positioned Caterpillar as an industry leader in mining autonomy and technology.
“We are deeply grateful for all she has done to strengthen our relationships with customers, develop our people and shape the future of our company. Her impact and influence will be remembered long after her retirement.”
York has led Caterpillar’s global industrial gas turbines and energy compressors business since 2023 and has been with the group for 16 years. He previously worked in banking and public accounting.
Johnson said York was “the right leader” to build on the foundation she helped build.
“The greatest accomplishment of any leader is leaving an organisation better positioned for the future. I’m proud of the foundation we’ve built, the people we’ve developed and the enduring impact this team will continue to make,” she said.
