October 29, 2009
(Peoria, Illinois) — Douglas Oberhelman will become the CEO of Caterpillar Inc starting in July of next year. The Peoria, Illinois-based company said Oberhelman, 56, will succeed current Chief Executive Jim Owens on July 1. Owens will stay on as chairman until he retires Oct. 31 under a mandatory retirement policy.
Oberhelman, a 34-year Caterpillar veteran, currently is the company’s group president, responsible for its engine and gas turbine businesses, human services, rail services, and remanufacturing divisions. Earlier, he was its chief financial officer.