Caterpillar's Leadership Transition: Tony Fassino Retires After 30 Years

Caterpillar's Leadership Transition in Construction Industries

Caterpillar Inc. has officially announced a significant leadership transition within its Construction Industries division. Tony Fassino, who has served as the group president for this division, is set to retire on May 31, 2026, after a remarkable 30-year career with the company. His tenure has been marked by numerous contributions that have shaped the company and benefited its customers.

A Tribute to Tony Fassino

Tony Fassino has been a key figure within Caterpillar, overseeing various aspects of the company’s global operations throughout his career. Steve Creed, CEO of Caterpillar, praised Fassino's extensive contributions, which drove the design and introduction of new products, services, and technologies. These developments have solidified Caterpillar’s position as a leader in the construction and mining equipment industry.

His career trajectory at Caterpillar has been impressive, holding positions of increasing responsibility across numerous global functions. Fassino was appointed as the senior vice president of Building Construction Products (BCP) in 2018 and later became the group president of Construction Industries in 2021. Notably, his leadership extends beyond Caterpillar, as he has participated in various external organizations, including the Association of Equipment Manufacturers and the United Way of the Greater Triangle.

Fassino's retirement marks the end of a significant chapter for Caterpillar, but his legacy will undoubtedly linger, influencing the company’s approach to innovation and customer engagement.

Rod Shurman Takes the Helm

Following Fassino's retirement, Caterpillar has appointed Rod Shurman as the new group president of Construction Industries, effective February 1, 2026. Shurman is no stranger to Caterpillar, having joined the company in 1997. His background in engineering and operations has prepared him well for this leadership role.

Before his new appointment, Shurman served as the senior vice president of the BCP division, where he led the company's initiatives related to compact construction machines and attachments. Creed expressed confidence in Shurman’s ability to guide the Construction Industries segment into its next chapter, emphasizing that Shurman's deep expertise and commitment to solving customer challenges would be invaluable.

The Future of Caterpillar's Construction Industries

Under Shurman's leadership, the Construction Industries will encompass several key divisions, including Earthmoving, Excavation, and Customer Solutions divisions. His extensive experience and background will be critical in navigating the challenges and opportunities that lie ahead for Caterpillar’s Construction Businesses.

Caterpillar has long been committed to innovation and sustainability, evident in its robust sales of $64.8 billion in 2024. This transition in leadership signals a pivot towards continued progress and adaptation in an evolving industry landscape. The company remains dedicated to building a better world with a reduced carbon footprint, and leadership changes like these reflect its ongoing commitment to achieving these objectives.

As the industry watches closely, the transition represents a blend of honoring a legacy while embracing new leadership that aims to push the boundaries of what Caterpillar can achieve.

In summary, as Tony Fassino prepares for retirement, the spotlight shifts to Rod Shurman. Caterpillar is poised for new growth under Shurman's guidance, promising innovation and continued excellence in the construction industries.

Caterpillar Inc. remains at the forefront of construction and mining equipment manufacturing, demonstrating a commitment to transforming challenges into opportunities. With a promising new leader at the helm, the future looks bright for Caterpillar.