Two of Caterpillar's five group presidents retiring


Oct 11 (Reuters) - Two of Caterpillar Inc's fivegroup presidents are retiring, a loss of key talent as theworld's largest maker of tractors, excavators and other heavyequipment tries to navigate the rough global economy.

Rich Lavin, 59, who had overseen Caterpillar's constructionindustries unit, will be replaced by CFO Ed Rapp, 54, inJanuary, Caterpillar said on Thursday afternoon.

The construction industries unit brought in roughly 34percent of Caterpillar's 2011 revenue.

Gerard Vittecoq, 63, who had overseen the division sellingpower generators, will be replaced by Jim Umpleby, an executivewho has ran Caterpillar's solar turbine business.

The power systems unit brought in roughly 37 percent ofCaterpillar's 2011 revenue.

Rapp will be replaced as CFO by Brad Halverson, 49, who hasbeen running the company's finance services unit.

Peoria, Illinois-based Caterpillar cut its 2015 earningstarget last month, citing slowing demand for many of itsproducts amid rising supply costs.

(Reporting By Ernest Scheyder; Editing by M.D. Golan)