New Caterpillar CEO takes over as chairman too

By Associated Press
Posted Nov. 1, 2010 at 1:56 p.m.

Caterpillar Inc.’s new CEO Doug Oberhelman is now also chairman at the world’s largest maker of mining and construction equipment.

Oberhelman became chairman Monday after the retirement of Jim Owens.

Caterpillar said Oberhelman planned to spend his first day as chairman meeting with dealers who sell the company’s equipment in Latin America.

Oberhelman became chief executive in July as part of a planned succession before Owens’ retirement. Oberhelman has worked for the Peoria, Ill.-based company since 1975.

Owens, who had led the company since 2004, worked for Caterpillar for more than 38 years.

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