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Tag: 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
Roadbuilding
Caterpillar Chairman & CEO Oberhelman honored with ARTBA Award
The American Road & Transportation Builders Association (ARTBA) has presented Caterpillar Chairman & CEO Doug Oberhelman with the ARTBA Award, the association’s highest recognition honor. ARTBA honored Oberhelman during its annual national convention in Tucson, Arizona. The award was established in 1960 to recognize “outstanding contributions that have advanced the broad goals of the association.” […]
October 12, 2016
Construction Equipment
Cat’s Oberhelman: “Welcome to the age of smart iron”
In the coming years, the talk from Caterpillar will be technology, technology and more technology, if the remarks Cat Chairman/CEO Doug Oberhelman made at the Munich, Germany, bauma trade show today are any indication. “We talked about technology at the last bauma in 2013, and the digital transformation is even more important now,” he commented […]
April 12, 2016
Business
Caterpillar mining VP retires amid leadership shakeup
Chris Curfman, the chief mining executive at Caterpillar, will retire at the end of the year, ending a more than 20-year career at the company. Caterpillar announced the move this week amid big changes for the company, including a massive $1.5 billion cost reduction plan and a restructuring of leadership within the Mining Sales and Support Division, […]
September 25, 2015
Business
Caterpillar plans up to 10,000 job cuts as part of extensive $1.5 billion cost reduction plan
In the midst of a third straight year of down sales and revenues, Caterpillar has announced further cost cutting and restructuring in order to lessen the impact of what will likely be off a fourth-straight down year in 2016—a first in the company’s nearly century-long history. Planning large workforce cuts and the consolidation and closures of its […]
September 24, 2015
Roadbuilding
Caterpillar CEO says Congress’ inaction on long-term highway bill threatens nation’s future
The chairman and CEO of Caterpillar Inc. is again speaking out in favor of a long-term highway bill. Doug Oberhelman wrote a column for CNBC published September 17 calling Congress to work to pass a long-term transportation bill as the deadline for the October 29 expiration of the Highway Trust Fund looms closer. He wrote a similar […]
September 24, 2015
Business
Caterpillar beats estimates, boosts profit 20% in 1Q despite dip in sales
Caterpillar delivered very good news for shareholders in its first quarter earnings report, with a big profit increase and an improved outlook for the rest of the year. The company reported a 20-percent boost in profit over Q1 2014 to $1.1 billion, or $1.81 per share. This was despite a 4-percent sales and revenues drop to $12.7 […]
April 24, 2015
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
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
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