Caterpillar Inc CEO Doug Oberhelman to retire

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  • Copyright Reuters 2016

    (Copyright Reuters 2016)

  • Doug Oberhelman visits the Ernest Hemingway Museum before a news conference in Havana, Cuba, May 11, 2016, REUTERS/Alexandre Meneghini

    Doug Oberhelman visits the Ernest Hemingway Museum before a news conference in Havana, Cuba, May 11, 2016, REUTERS/Alexandre Meneghini (Copyright Reuters 2016)

Heavy equipment maker Caterpillar Inc said Chairman and Chief Executive Officer Doug Oberhelman will retire, effective March 31.

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The company named Jim Umpleby, group president for energy and transportation, as the new CEO.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)