PEORIA, Ill. (AP) -- Heavy equipment manufacturer Caterpillar Inc. said Wednesday that two CEOs have been elected to its board of directors.
The company said David Calhoun and Dennis A. Muilenburg will join the board. Calhoun is CEO of Nielsen. Prior to that, he was vice chairman of General Electric Co. Muilenburg has been executive vice president of Boeing Co. and CEO of Boeing Defense, Space & Security since September 2009.
Caterpillar CEO Doug Oberhelman said Calhoun will bring significant manufacturing and high-technology industry expertise to the board, building on his past at GE's aircraft engines and transportation business. Oberhelman said Muilenburg's experience with large-scale product development and supply chain logistics will aid Caterpillar as it expands its global manufacturing base.
Shares of Caterpillar fell $1.84, or nearly 2 percent, to close at $98.04.