Caterpillar CFO Andrew Bonfield to retire in October

Caterpillar Inc announced on Wednesday that its Chief Financial Officer, Andrew Bonfield, will retire from the company effective October 1. The transition follows an eight-year tenure for Bonfield at the heavy equipment manufacturer.

The company clarified that Bonfield is stepping down from his role as CFO, correcting earlier reports that had misstated his status. Since joining the firm, he has played a critical role in managing the financial operations of the global industrial leader. Caterpillar has not yet provided information regarding a successor for the position.