ASV CEO to retire, Caterpillar vet will take over

Rubber- track loader manufacturer ASV has announced the retirement of chairman and chief executive Gary Lemke, effective June 2. Richard Benson, who worked for Caterpillar 35 years, will assume his position.

“The timing of this transition could not have been better, nor can I think of a better candidate for this position,” Lemke said. “I am very pleased to transition the leadership of ASV to an individual who shares our vision.”

Benson has served in a number of positions with Caterpillar, including chief economist for Europe, Africa and the Middle East. In 1989 he became vice president of Caterpillar and in 1992 he took over the company’s diversified products division.

“It will be challenging to try to fill the shoes of a revered leader who founded a company and took it to the top 10 in Fortune Magazine’s list of fastest growing companies in the nation,” Benson said. “I am privileged to have the opportunity to work with the dedicated team of ASV employees as we continue to pursue Gary’s vision of excellence and innovation.”