Published: 11/4/09 | 587 words | Print Version

Courtesy photo Former Woodstock resident Douglas Oberhelman will become CEO of Caterpillar Inc. Jan. 1.

Douglas Oberhelman, a 1971 graduate of Woodstock High School, has fond memories of growing up in Woodstock and particularly of his days working as a newspaper delivery boy for the Woodstock Sentinel.

Earlier this month, the board of directors of Caterpillar Inc., Peoria, elected Oberhelman to the offices of vice chairman and chief executive officer, effective Jan. 1, 2010. Oberhelman, 56, currently serves as group president of Caterpillar with responsibility for the company's engine and gas turbine businesses, human services, rail services and remanufacturing divisions. As vice chairman- and CEO-elect, Oberhelman will take on the additional responsibilities of managing the leadership transition and updating the company's strategy.

Interestingly, Oberhelman credits his experience at the Sentinel for teaching him some of his first basic business lessons.

"I had to walk up and collect that 35 cents every week," he said. "I had to walk up there (as a grade-school student) and face adults."

Responsibility was the key to success in the job, and taking ownership of that responsibility was a lesson Oberhelman learned immediately. While his parents, Woodstock residents Ernie and Donna Oberhelman, would drive him along his route during severe weather, most days he would tough it out on his bike. As a reminder of the importance the job paid in his career, Oberhelman keeps his old carrier bike and carrier bag hanging in his garage.

"As simple as it (the lesson) was, it was a good one," he said.

Oberhelman will serve as vice chairman- and CEO-elect until the June 2010 Caterpillar Board of Directors meeting, at which time he will be elected CEO and a member of the board of directors, succeeding James Owens, 63. Owens will continue to serve as chairman of the board and CEO until July 1, 2010. He will remain as chairman of the board through Oct. 31, 2010, when he will retire in accordance with the company's long-standing mandatory retirement policy.

"I've been in a whirlwind," Oberhelman said of his life since the announcement.

Oberhelman joined Caterpillar in 1975 in the corporate treasury department and has held a variety of positions, including senior finance representative based in South America for Caterpillar Americas Co.; region finance manager and district manager for the company's North American Commercial Division; and managing director and vice general manager for strategic planning at Shin Caterpillar Mitsubishi Ltd. in Tokyo, Japan.

He was elected a vice president in 1995, serving as Caterpillar's chief financial officer from 1995 to November 1998. He then became vice president with responsibility for the Engine Products Division. He was elected a group president and member of Caterpillar's executive office in 2002 and has had responsibility for the company's Asia Pacific region as well as Cat's financial products and strategic support divisions. He currently oversees the human services and sustainable development functions as well as Caterpillar's growing remanufacturing business. He also leads the worldwide manufacturing, marketing and support of industrial and large power systems, industrial gas turbines and Progress Rail Services.

"This is one of the greatest companies in America and maybe the world," Oberhelman said. He said it has been rewarding to see the company thrive as many construction equipment manufacturers around the world have closed.

Still, Oberhelman admitted 2009 has been a "painful" year as the economy has impacted the company, forcing Caterpiller to lay off employees to keep the company strong.

"It's just really painful and not fair in many ways," Oberhelman said.

Oberhelman has a bachelor's degree from Millikin University. He has served as chairman of the board of trustees for Millikin University and chairman or member of the board of directors for several other organizations.