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Caterpillar Announces Retirement Of 2 Long-Time Board Members & Addition Of CEO Of Cargill To Board

By John F. Heerdink, Jr.

As per reports, Caterpillar, Inc. (CAT) has announced the retirement of its 2 long-time members of the board of directors, Juan Gallardo and William (Bill) Osborn, along with the election of Cargill Board Chair and CEO, David MacLennan to the board, effective April 14, 2021.

Gallardo, 73 was elected to the Caterpillar board of directors in 1998. Gallardo served on Caterpillar’s Public Policy and Governance Committee.

“Working alongside Juan has been a privilege. His international business expertise and active engagement in trade-related issues have greatly benefited Caterpillar. On behalf of the entire board, I thank Juan for his exemplary service” stated Caterpillar Chairman and CEO Jim Umpleby.

Osborn, 73, was elected to the Caterpillar board of directors in 2000. He was most recently a member of the Audit Committee, which he chaired for many years. 

“Bill’s two decades of service to Caterpillar have proven invaluable,”  “He leveraged his leadership experience to provide insightful guidance regarding strategy and governance. The Caterpillar board thanks Bill for his outstanding service.” stated Umpleby.

MacLennan, 61, has been CEO of Cargill since 2013 and Board Chair since 2015.  He will join 10 other members on Caterpillar’s board of directors and will serve on the Audit Committee.

Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent. To learn more about Caterpillar, Inc. (CAT) and to continue to track its progress please visit the Vista Partners Caterpillar, Inc. Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Caterpillar Announces Board of Directors Changes in PR Newswire)


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