James W. Owens
Encyclopedia
James W. Owens is the former Chairman and Chief Executive Officer
of Caterpillar Inc.
, the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. He has held the posts from 1 February 2004 through 2010.
After joining the company in 1972 as a corporate economist, he has held numerous management positions.
Owens was named chief economist of Caterpillar Overseas S.A. in Geneva
, Switzerland
in 1975. From 1980 until 1987 he held managerial positions in Peoria
in the Accounting and Product Source Planning Departments. In 1987 he became managing director of P.T. Natra Raya, Caterpillar's joint venture in Indonesia
. He held that position until 1990, when he was elected a corporate vice president and named president of Solar Turbines Incorporated, a Caterpillar subsidiary in San Diego. In 1993 he came to Peoria as vice president and chief financial officer with administrative responsibility for the Corporate Services Division.
In 1995, Owens was named a group president and member of Caterpillar’s Executive Office. Over the next nine years as a group president, Owens was at various times responsible for 13 of the company’s 25 divisions. In December 2003, the Caterpillar Board of Directors named Owens vice chairman and appointed him chairman and chief executive officer effective February 1, 2004.
Owens, a native of Elizabeth City, North Carolina
, graduated from North Carolina State University
, in 1973 with a Ph.D. in economics.
He is a director of the Institute for International Economics
in Washington, DC, a member of the Council on Foreign Relations
in New York
, and a director of FM Global Insurance Company
in Rhode Island
. Owens is a member of The Business Roundtable
in Washington, DC, and the Global Advisory Council to The Conference Board
in New York. He is also a member of the Community Advisory Board of Saint Francis Medical Center
and the Civic Federation Board in Peoria.
Other directorships held by Owens include Alcoa
, and International Business Machines.
In August 2009 it was made known by an article in the Peoria Journal Star
that Caterpillar was beginning to plan for Owens' retirement (he is nearing the Caterpillar mandatory retirement age of 65) and the transition to another chairman and CEO. On October 22, 2009 Caterpillar announced that Douglas R. Oberhelman
will succeed Owens as CEO on July 1, 2010 and as Chairman on October 31, 2010.
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Caterpillar Inc.
Caterpillar Inc.
Caterpillar Inc. , also known as "CAT", designs, manufactures, markets and sells machinery and engines and sells financial products and insurance to customers via a worldwide dealer network. Caterpillar is the world's largest manufacturer of construction and mining equipment, diesel and natural gas...
, the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. He has held the posts from 1 February 2004 through 2010.
After joining the company in 1972 as a corporate economist, he has held numerous management positions.
Owens was named chief economist of Caterpillar Overseas S.A. in Geneva
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
in 1975. From 1980 until 1987 he held managerial positions in Peoria
Peoria, Illinois
Peoria is the largest city on the Illinois River and the county seat of Peoria County, Illinois, in the United States. It is named after the Peoria tribe. As of the 2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007, and is the third-most populated...
in the Accounting and Product Source Planning Departments. In 1987 he became managing director of P.T. Natra Raya, Caterpillar's joint venture in Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
. He held that position until 1990, when he was elected a corporate vice president and named president of Solar Turbines Incorporated, a Caterpillar subsidiary in San Diego. In 1993 he came to Peoria as vice president and chief financial officer with administrative responsibility for the Corporate Services Division.
In 1995, Owens was named a group president and member of Caterpillar’s Executive Office. Over the next nine years as a group president, Owens was at various times responsible for 13 of the company’s 25 divisions. In December 2003, the Caterpillar Board of Directors named Owens vice chairman and appointed him chairman and chief executive officer effective February 1, 2004.
Owens, a native of Elizabeth City, North Carolina
Elizabeth City, North Carolina
Elizabeth City is a city in Pasquotank County and Camden County in the State of North Carolina. With a population of 18,683 at the 2010 census, Elizabeth City is the county seat of Pasquotank County....
, graduated from North Carolina State University
North Carolina State University
North Carolina State University at Raleigh is a public, coeducational, extensive research university located in Raleigh, North Carolina, United States. Commonly known as NC State, the university is part of the University of North Carolina system and is a land, sea, and space grant institution...
, in 1973 with a Ph.D. in economics.
He is a director of the Institute for International Economics
Institute for International Economics
The Peter G. Peterson Institute for International Economics , formerly the Institute for International Economics, is a private, non-profit, and nonpartisan think tank focused on international economics, based in Washington, D.C. It was founded by C...
in Washington, DC, a member of the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, and a director of FM Global Insurance Company
FM Global
FM Global is a U.S.-based insurance company, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk property insurance market sector. "FM Global" is the communicative name of the company, whereas the...
in Rhode Island
Rhode Island
The state of Rhode Island and Providence Plantations, more commonly referred to as Rhode Island , is a state in the New England region of the United States. It is the smallest U.S. state by area...
. Owens is a member of The Business Roundtable
Business Roundtable
The Business Roundtable is a politically conservative group of chief executive officers of major U.S. corporations formed to promote pro-business public policy.-History:...
in Washington, DC, and the Global Advisory Council to The Conference Board
The Conference Board
The Conference Board, Inc. is a non-profit, non-partisan business membership and research group. It has approximately 12,000 executives in its network, from 1200 corporations in 60 countries. It holds conferences, convenes executives, conducts economic and business management research, and is seen...
in New York. He is also a member of the Community Advisory Board of Saint Francis Medical Center
OSF Saint Francis Medical Center
OSF Saint Francis Medical Center, located in Peoria, Illinois, United States, is a teaching hospital for the University of Illinois College of Medicine at Peoria and part of the OSF Healthcare System...
and the Civic Federation Board in Peoria.
Other directorships held by Owens include Alcoa
Alcoa
Alcoa Inc. is the world's third largest producer of aluminum, behind Rio Tinto Alcan and Rusal. From its operational headquarters in Pittsburgh, Pennsylvania, Alcoa conducts operations in 31 countries...
, and International Business Machines.
In August 2009 it was made known by an article in the Peoria Journal Star
Peoria Journal Star
The Journal Star is the major daily newspaper for Peoria, Illinois and surrounding area. First owned locally, then employee-owned, it became a Copley-owned entity in 1996. In 2007, the paper was sold to Fairport, New York-based GateHouse Media.-History:...
that Caterpillar was beginning to plan for Owens' retirement (he is nearing the Caterpillar mandatory retirement age of 65) and the transition to another chairman and CEO. On October 22, 2009 Caterpillar announced that Douglas R. Oberhelman
Douglas R. Oberhelman
Douglas R. "Doug" Oberhelman, born , is the head of Caterpillar Inc. in Peoria, Illinois. He succeeded Jim Owens as CEO on July 1, 2010 and as Chairman of the Board on November 1, 2010....
will succeed Owens as CEO on July 1, 2010 and as Chairman on October 31, 2010.