Tag: Caterpillar CEO Doug Oberhelman

Business

Caterpillar CEO Doug Oberhelman to retire next year; Umpleby tapped as successor

Caterpillar chairman and chief executive officer Doug Oberhelman has announced that he will retire next year, bringing an end to a 41-year career with the company. Caterpillar has announced successors for both the CEO post and Oberhelman’s role at the head of the board. Oberhelman will oversee the company and its board until March 31, […]

October 17, 2016

Construction Equipment

Caterpillar CEO talks up prospects of highway bill, says U.S. has a lot to learn about public-private partnerships

What are the prospects for the federal government passing a multi-year highway bill soon? Doug Oberhelman, Caterpillar chairman and chief executive officer, says he was extremely encouraged by President Barack Obama’s recent proposal for a $302-billion, multi-year highway bill. “We have been pushing hard for that at Caterpillar and our customers have been pushing us […]

March 4, 2014

Business

Profits drop 33% in 2013, but Caterpillar’s better-than-expected 4Q provides momentum for ’14

Caterpillar released its fourth quarter and full-year financial results for 2013 this morning, with numbers that were better than expected by Wall Street analysts. The heavy equipment manufacturer’s profits were $1 billion in the fourth quarter, an increase of 44 percent from 4Q 2012. That increase is mostly due to the $580 million impairment charge […]

January 27, 2014

Business

Bloomberg profile of Caterpillar CEO focuses on gap between profits and worker pay

Bloomberg Businessweek recently profiled Caterpillar CEO Doug Olberhelman, pulling very few punches in the process. The profile refers to Olberhelman as a man with a “serious demeanor” and calls him the “mouthpiece” of American manufacturing. It details his work to loosen trade restrictions, lower the corporate tax rate and increase infrastructure spending, as well as his […]

May 20, 2013

Business

Caterpillar first-quarter profits fall 45% due to inventory cuts, low mining demand

A steep decline in demand for mining equipment coupled with reductions in inventory are to blame for Caterpillar’s slumping first-quarter financial results, the company reports. The company reported a profit of $880 million in the first quarter of 2013, a 45-percent tumble from the $1.586 billion the company pulled in the first quarter of 2012. Sales […]

April 23, 2013

Home

Caterpillar CEO talks Bauma, telematics and customers

From Munich and the Bauma show, Caterpillar recently posted a video interview to YouTube with its Chairman and CEO Doug Oberhelman. In the video Oberhelman says he really enjoys the opportunities to learn that a show like Bauma affords him. “This is kind of where it all comes together because you have customers here that […]

April 19, 2013

Business

Caterpillar CEO talks hybrid tech, rental business at Bauma

Noting that the 2010 Icelandic volcano prevented him from attending the last Bauma show, Doug Oberhelman, Caterpillar president and CEO, used that circumstance as an example of how much technology has advanced in just three years during remarks made today at the international trade show. “Then, we were scrambling to get a satellite feed. Now, […]

April 16, 2013

Business

Caterpillar CEO calls for more visas for foreign engineers, path to legal status for undocumented immigrants

During a speech at the Illinois Business Immigration Coalition in Chicago, Caterpillar CEO Doug Oberhelman said his company has a hard time retaining talent and filling lower-skilled positions due to the hard time its foreign workers have in obtaining a visa to stay in the U.S. “Today, we (employers) have gaps in our workforce. We have […]

April 5, 2013

Roadbuilding

Cat buys alternative engine maker, posts stellar 3rd quarter results

Following yesterday’s release of stellar third-quarter sales, Caterpillar says it will buy MWM Holding GmBH from 3i. Headquartered in Mannheim, Germany, MWM supplies alternative engines. With this $810 million cash deal, Cat says it will significantly expand options for sustainable power generation solutions. MWM has a “highly efficient range of engines, combined heat and power and trigeneration […]

October 22, 2010

Business

Cat buys alternative engine maker, posts stellar 3rd quarter results

Following yesterday’s release of stellar third-quarter sales, Caterpillar says it will buy MWM Holding GmBH from 3i. Headquartered in Mannheim, Germany, MWM supplies alternative engines. With this $810 million cash deal, Cat says it will significantly expand options for sustainable power generation solutions. MWM has a “highly efficient range of engines, combined heat and power and trigeneration […]

October 22, 2010