“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 says.
The company dramatically expanded its commitment to lower owning and operating costs for customers by connecting new and existing equipment through digital technology and data analytics.Caterpillar has been granted nearly 7,300 patents worldwide.Global safety metrics for employees have dramatically improved, with the recordable injury frequency improving each year.The balance sheet is strong, and at the end of the second quarter of 2016, Caterpillar’s Machinery Energy & Transportation debt-to-capital ratio was 39%, with $6.764 billion in cash as of June 30, 2016.The company has increased its quarterly dividend by 83% since 2010.New lean management processes have simplified and sped production capabilities, improving product availability for dealers and customers.Market position for machines has significantly increased.Product quality levels have reached historically high levels.Oberhelman led the company to its highest sales and revenue peak in its 91-year history in 2012, and, since that time, has successfully led the company through the unprecedented downturn affecting our key industries. During his time as chairman and CEO, Oberhelman has reinvigorated the company’s focus on serving customers while also driving a culture of quality and safety. Peoria, Illinois – After more than 41 years with Caterpillar Inc., Chairman and CEO Doug Oberhelman has elected to retire, effective March 31, 2017.