IT Industry Alert: Caterpillar Names Finance Executive as CIO
In a high-profile leadership change this month, Caterpillar has named Julie Lagacy as Chief Information Officer following the resignation of Randy Krotowski who left the company to “pursue other opportunities.” The twist of the story is: Lagacy actually comes from a finance background.
Strong Finance Background
Lagacy, who is a 26-year veteran of the company, previously served as VP of the Financial Services Division for Caterpillar. While recent years show technology becoming more integrated with other business divisions of corporations, DiscoverOrg analysts are finding it to be increasingly more common for executive IT positions to be held by those from finance backgrounds. Our analysts explain that it is critical that CIOs are able to bring a strong knowledge of both technology and business fundamentals to the table.
“Julie has done a tremendous job managing two key roles within the company since June, demonstrating her leadership ability,” said Brad Halverson, Group President and CFO of Caterpillar. “In addition to her strong financial acumen, strategic management style and her commitment to leading with integrity, she understands how to partner with our businesses throughout the company, which is important in a complex, global business like ours. She will build on the foundation she and her team have laid to carry forward the mission of transforming Caterpillar’s information technology into a real competitive advantage.”
Looking Toward the Future
Lagacy joined Caterpillar in 1988 as a pricing analyst and has since held a series of positions in the finance department including product manager, commercial manager and human resources manager. She received her undergraduate degree in Economics and Management from Illinois State University, and earned a Master’s degree in Business Administration from Bradley University. She is a Certified Management Accountant.
Sources have indicated that one of the first projects Lagacy will tackle as CIO will be developing and implementing processes that will support the company’s future identity access management (IAM and security requirements.
Lagacy will assume her new position beginning on January 1, 2015 and will be immediately charged with evaluating current systems and optimizing the company’s IT operations. DiscoverOrg analysts have found that the C-Suite spends a large portion of their budget in the first three months of tenure, largely due to the pressure of performance in a new, high-level position. Stay in front of these opportunities with DiscoverOrg’s Triggers, alerting you of selling opportunities happening at your target accounts.
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