Caterpillar CEO Adds Chairman Title

PEORIA, Ill. (AP) — Caterpillar Inc.'s new CEO Doug Oberhelman is now also chairman of the board at the world's largest maker of mining and construction equipment.

Oberhelman became chairman Monday following the retirement of Jim Owens.

Caterpillar said Oberhelman planned to spend his first day as chairman meeting with dealers who sell the company's equipment in Latin America.

Oberhelman became chief executive in July as part of a planned succession before Owens' retirement. Oberhelman has worked for the Peoria, Ill.-based company since 1975.

Owens, who served as the company's top executive from 2004 to this year, worked for Caterpillar for more than 38 years.