Progress Rail CEO Haycraft to retire, Newman named successor

Progress Rail announced yesterday that President and CEO Marty Haycraft, who also serves as senior vice president of parent company Caterpillar Inc., will retire at the end of the year. 

Haycraft began his railroading career in 1990 with Wheel Corporation of America. In 1993, he joined Progress Rail, where he served as VP of sales and marketing for locomotive and rail-car services, VP and chief marketing officer and executive VP of rolling stock. Haycraft was named president and CEO in 2019.

Haycraft will be succeeded by John Newman, who has been Progress Rail's executive VP of Infrastructure since 2018. Newman joined Caterpillar in 2011 as an attorney in legal services and worked directly to support Progress Rail. He later held leadership roles in strategic sales and corporate services.

"Marty has led his teams with integrity and heart, and his guidance and friendship will be missed," said Caterpillar Energy and Transportation Group President Joe Creed in a press release. "John’s experience and expertise will serve him well as he leads the team into the future."