Foley Inc., the Caterpillar dealer for northern New Jersey, Staten Island, N.Y., and Bermuda, promoted Jamie Foley to chief financial officer and vice-president. Foley will replace Ferris Van Dien, who is retiring after serving as CFO since 1991. The company doubled in size during Van Dien’s years as CFO.
Foley came to Foley Inc. in 1999 as administrative sales manager. In 2001 he was promoted to marketing manager and moved on to be general manager of the Foley Rents division. Foley increased the profitability of the rental division, increased sales and rental of Caterpillar compact equipment, and developed Foley’s allied equipment fleet. In January 2003, Foley was promoted to corporate asset manager, where he implemented new systems and procedures to maximize the productivity and financial utilization of its inventory.
In his new role, Foley will be responsible for all financial matters for the organization.
“Ferris’ expertise in strategic planning, accounting, and business analysis contributed greatly to the long-term success of the dealership,” said CEO Kim Foley. “He not only guided the company’s financial decisions for almost 20 years, but also played a significant role in mentoring Jamie Foley during his career development.”