Jim Baumgartner is stepping down March 1 as director of corporate affairs at Caterpillar Inc., the $65B Peoria-based earthmoving equipment giant.
The 62-year-old executive said after more than 40 years of traveling he wants to spend quality time with his family.
No replacement has been named.
Baumgartner joined Cat in 1977 as a management trainee. He served as machine sales rep and district manager in Venezuela and Peru.
After exiting in 1998, Baumgartner rejoined the company in 2003 as director of strategic consulting before moving to his current position two years ago.
Jim Dugan is chief corporate spokesperson for Caterpillar, which is led by CEO Doug Oberhelman.
Caterpillar posted a 17.2 decline in nine-month revenues to $41.2B on a 44 percent fall in net income to $2.8B due to the downturn in the global mining business.
The company forecasts a better 2014 as it projects worldwide growth of three percent up from 2.1 percent this year.
The mining sector though is expected to remain under pressure.
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