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Caterpillar Announces Board of Directors Changes
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DEERFIELD, Ill., April 16, 2021 /PRNewswire/ Caterpillar Inc. (NYSE: CAT) is announcing the retirement of two long-time members of the board of directors, Juan Gallardo and William (Bill) Osborn. The company also announces the election of Cargill Board Chair and Chief Executive Officer (CEO) David MacLennan to the board. All changes were effective April 14, 2021.
Juan Gallardo, member of the Caterpillar board of directors since 1998, has retired effective April 14, 2021.
William (Bill) Osborn, member of the Caterpillar board of directors since 2000, has retired effective April 14, 2021.
David MacLennan, Board Chair and Chief Executive Officer of Cargill, has been elected to the Caterpillar board of directors effective April 14, 2021.
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This week marked one year since the World Health Organization declared the coronavirus outbreak a global pandemic, and what a year it’s been. But if you had been lucky enough to live under a rock and avoid the whole thing, the starting and ending data points for the manufacturing sector might leave you scratching your head as to what all the fuss was about. US manufacturing activity expanded in February at the fastest pace in three years, according to Institute for Supply Management data. Copper prices, a key indicator of industrial demand, are near a decade high. The S&P 500 Industrial Index is trading almost 20% higher than where it ended 2019. CEOS at companies including 3M Co., Stanley Black & Decker Inc. and Caterpillar Inc. are spending like there’s no pandemic. By almost every measure, the industrial recovery is well underway and accelerating. It s remarkable when you stop and think about it.