Caterpillar’s Haycraft to Retire
Written by Carolina Worrell, Senior Editor
John Newman (right) will succeed Marty Haycraft (left) as SVP of Caterpillar and President and CEO of Progress Rail when Haycraft retires at the end of the year.
Caterpillar Inc. announced on Oct. 24 that Marty Haycraft, Caterpillar Senior Vice President and President and CEO of Progress Rail, a Caterpillar Company, will retire at the end of 2022 after 32 years of service. He will be succeeded by John Newman.
Haycraft began his career in 1990 at Wheel Corporation of America, where he worked as a production employee and gained experience on freight car wheel set production and freight car wheel set materials. He joined Progress Rail in 1993 when Corbin Railway Services purchased Steel Processing Services, later to become Progress Rail.
Haycraft rose through the company, holding several operations, materials management and sales and marketing management positions, including Vice President of Operations for the company’s wheel and axle shops, parts reclamation, mobile crews and outside yards. He was named Vice President of Sales and Marketing for Caterpillar’s locomotive and railcar services business in March 2002, and in 2009, was promoted to Vice President and Chief Marketing Officer of the business. In 2011, Haycraft was promoted to Senior Vice President, and in 2018, with expanded responsibilities internationally, was named Executive Vice President of Rolling Stock. In 2019, Marty moved into his current role as President and CEO of Progress Rail.
“With such an accomplished career, Marty has much to be proud of and celebrate,” said Caterpillar Energy & Transportation Group President Joe Creed. “This includes the tremendous strides he and his team have made in support of our locomotive emissions reduction technologies and new offerings to help customers achieve their climate-related objectives. Marty has led his teams with integrity and heart, and his guidance and friendship will be missed.”
Newman, who will succeed Haycraft, joined Caterpillar in 2011 as an attorney with the Legal Services Division, providing support to Progress Rail. After joining the commercial team in 2012, he served as Regional Director of Sub-Saharan Africa, based in Pretoria, South Africa, and as the company’s Strategic Sales Director. In 2015, John was promoted to Senior Vice President of Corporate Services responsibile for various administrative functions, as well as strategic growth, including mergers and acquisitions. Newman assumed his most recent role with Progress Rail as Executive Vice president of Infrastructure in January 2018. Prior to joining Caterpillar, Newman gained domestic and international experience working in the pharmaceutical, technology and textile industries before deciding to study law. After law school, he practiced at Burr & Forman LLP, where he focused on business planning, mergers and acquisitions, economic development, and antitrust matters.
“Rail is a rapidly evolving industry, and John’s experience and expertise will serve him well as he leads the team into the future,” Creed said. “I look forward to working with John and his team as we continue to support our customers in the future.”
