11/5/2022 0 Comments When did ed rust retire“I am honored to take on these new responsibilities with Caterpillar, an iconic and global leader,” Calhoun said. (2006-2013), Vice Chairman of General Electric Company and President and Chief Executive Officer of GE Infrastructure (2005-2006). (2014-2015), served as Chairman of the Executive Board and Chief Executive Officer of The Nielsen Company B.V. In addition to his role with the Blackstone Group, he was previously Executive Chair of Nielsen Holdings N.V. We wish Doug all of the best for a successful retirement following a distinguished and successful 41-year career.”Ĭalhoun has been a member of the Caterpillar Board of Directors since 2011. I especially want to thank Doug for his strong and outstanding leadership of the company throughout his tenure, particularly in the last four years, when the global economic environment has created unprecedented challenges for Caterpillar. “I am certain Jim will continue the superb leadership, which is the hallmark of Caterpillar, in the years to come. Discussions are held throughout each year, and today’s announcement is the result of these ongoing and deliberate Board discussions,” Rust said. One of our top priorities as a Board is developing a strong pipeline of senior leaders. “The Board has a robust, best-in-class succession planning process for the critical roles of Chairman of the Board and Chief Executive Officer as well as other top executive positions. He was named Group President and a member of Caterpillar’s Executive Office, effective January 2013.Įd Rust, former Chairman and Chief Executive Officer of State Farm Mutual Automobile Insurance Company, and currently Presiding Director of the Caterpillar Board, will remain on the Board, but will no longer hold the title of Presiding Director once Calhoun assumes the role of Non-Executive Chairman. The Caterpillar Board of Directors elected Umpleby a Caterpillar Vice President and President of Solar Turbines in 2010. Umpleby lived in Asia from 1984 to 1990, with assignments in Singapore and Kuala Lumpur, Malaysia. Early in his career, he held numerous positions of increasing responsibility in engineering, manufacturing, sales, marketing and customer services. Solar, a wholly owned subsidiary of Caterpillar Inc., is one of the world’s leading manufacturers of industrial gas turbine systems. He joined Solar Turbines Incorporated in San Diego, California, in 1980. Umpleby, a 35-year veteran of the company, will join the Caterpillar Board of Directors and become CEO effective January 1, 2017. The company’s Board of Directors has elected Jim Umpleby, currently a Caterpillar Group President with responsibility for Energy & Transportation, to succeed Oberhelman as CEO. Add to that lean and agile manufacturing capabilities and an unrivaled global distribution channel. I am confident that Caterpillar is stronger than ever, with product quality, power, technology and innovation that is the envy of our competitors. Our product quality is at historically high levels, and I believe we are leading the industry in digital capabilities. We have improved our market position and grown our field population. Faced with these challenges, our employees have responded like champions. “During the last four years, Caterpillar has faced unprecedented global economic conditions that have significantly impacted the industries served by our customers, as those industries and economic growth in many regions around the world have slowed or severely contracted. “It has been an honor and a privilege to lead this company, and I am confident in the choice of my successor, Jim Umpleby.” “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,” Oberhelman said.
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