Starting Jan. 1, 2009, Vice President Tom Bluth will head the Earthmoving Division, which will be based in Beijing, the company said.

Vice President Mary Bell will head the new Building Construction Products Division, Vice President Chris Curfman will lead the new Mining Division and Vice President Bill Springer will lead the newly created Quarry & Waste Division, which will also cover government and defense customers, the company said in a statement Thursday.

Vice President Gary Stampanato will lead the fifth new division, Excavation, which will include all excavators and articulated trucks, Caterpillar said.

"We are well-positioned for long-term success," Chairman and Chief Executive Officer Jim Owens said in the statement. "By streamlining the organization and clarifying roles and responsibilities, we can refocus our efforts on those we are here to serve: our customers," he said.