Caterpillar names Crespo as procurement vice president

Caterpillar appoints procurement VP

PEORIA, Ill. — Caterpillar Inc. said Friday that its board of directors has named Frank Crespo as a vice president in charge of procurement.

Crespo will have oversight of Caterpillar’s global purchasing division when he joints the company Aug. 16. He is currently a vice president and chief procurement officer at Honeywell International Inc.

Shares of Caterpillar rose 41 cents to $69.81 in afternoon trading.