PEORIA, Ill. (AP) -- Manufacturer Caterpillar Inc. said Monday it is reorganizing its operations so many orders will be handled by one division from the time they are placed to the time they are delivered.
The new division will combine existing operations from areas including global purchasing, manufacturing logistics and transportation, and Caterpillar production system.
Caterpillar said the changes will take effect May 1. Dave Bozeman, a vice president of integrated manufacturing operations, will lead the new division.
Denise Johnson, another vice president, will replace Bozeman as head of integrated manufacturing.
Shares fell $2.78, or 3.3 percent, to $82.27 in regular trading Monday amid a broader market sell-off. The stock dipped another 7 cents in after-hours trading.