Caterpillar CEO to retire in 2017

Posted: Updated:

PEORIA – After serving the company for more than 41 years, Caterpillar Inc. Chairman and CEO Doug Oberhelman says he will retire March 31, 2017.

During Oberhelman’s time with Caterpillar, the company has seen product quality reach historically high levels and granted nearly 7,300 patents worldwide. Officials say he helped to reinvigorate the company’s focus on serving customers while also driving a culture of quality and safety.

Caterpillar saw the highest sales and revenues peak in its 91-year history in 2012 under Oberhelman’s leadership.

Now, with Oberhelman retiring, a successor has been chosen.

“Our people have heard me say many times that my greatest responsibility as Chairman and CEO is to manage Caterpillar for today and position the company and its future leaders for long-term success. It has been an honor and a privilege to lead this company, and I am confident in the choice of my successor, Jim Umpleby,” Oberhelman says.

The company’s Board of Directors elected Umpleby, currently a Caterpillar Group President with responsibility for Energy & Transportation, to succeed Oberhelman as CEO. Umpleby is a 35-year veteran of the company and will become CEO effective January 1, 2017.

“For more than 91 years, Caterpillar equipment has been renowned for its quality, durability, innovation and value. I have been privileged to work with Caterpillar employees and dealers in supporting our customers as they develop the world’s infrastructure and improve standards of living and quality of life. I look forward to leading our dedicated team as we build upon the accomplishments of those that have come before us,” Umpleby says.

A replacement for Umpleby will be announced at a later date.

Current Conditions
/
  • Most Popular Stories

    • Decatur man arrested for striking teen with belt

      DECATUR, Ill. (WAND) - A 40-year-old man was arrested early Friday morning for striking a teen more than a dozen times with a belt, according to the Decatur Police Department.

    • Clawbacks: Hidden Costs Of Copay

      Decatur, Illinois (WAND) – When you use insurance to pay for a drug prescription there is a good chance you use a copay to pay part of the cost.  But what you may not know there is often an unseen middleman increasing costs for you and your pharmacist.

    • Road Rage Victim Remembered

      Springfield, Ill. (WAND) – The victim of an apparent road rage killing in Springfield is being remembered by a friend who says he was excited to learn his girlfriend is pregnant.

    • 2 arrested for sending marijuana through mail

      DECATUR, Ill. (WAND) – Two men have been arrested for trafficking marijuana across state lines, according to the Decatur Police Department. 

    • Spain offers to host EU medicines agency after Brexit

      Competition is heating up among European Union countries hoping to reap some of the benefits of Britain's exit from the EU, with Spain joining the list of nations bidding to host the bloc's medicines oversight body.
    • New shelter helping veterans get back on their feet

      DANVILLE, Ill. (WAND) – Veterans have a new place to call home in Danville thanks to Mercy Housing Lakefront. 

    • Suspect in 2009 beating death found guilty again

      DECATUR, Ill. (WAND) - A jury found Elliott T. Murphy guilty for the murder of one man and attempted murder of another in 2009. 

    • Man arrested for threatening ex, shooting her horse

      LIVINGSTON COUNTY, Ill. (WAND) – Police say a man threatened his ex-girlfriend with a gun before turning it on her horse and firing a shot.

    • 1 dead amid flooding, strong thunderstorms in Midwest

      Flooding caused by heavy rains in the Midwest has killed one person in Missouri, prompted numerous rescues and blocked roadways.
    • Cobb one of many Illini alums to reach out to Underwood

      CHAMPAIGN -- Perhaps it's the frustration of not making a Final Four in 12 years, or excitement from new athletic director Josh Whitman's bold moves or just the optimism that builds after the changing of any guard. But Illinois' former players want back in. WAND interviewed Brian Cook about his desire to rejoin the program, players like Kendall Gill, Marcus Liberty, Kenny Battle, Deon Thomas and more have publicly reached out to new coach Brad Underwood and his first high school com...
  • Most Popular Videos