Caterpillar Announces Executive Officer Retirement

IRVING, Texas, June 21, 2023 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) announced today Chief Legal Officer and General Counsel Suzette M. Long will retire on December 31, 2023, following a distinguished 18-year career at the company. Derek Owens, who currently serves as Vice President and Deputy General Counsel, will assume the role of Senior Vice President and General Counsel on July 1, 2023. Following a period of transition, he will become Chief Legal Officer and General Counsel effective January 1, 2024.

"Suzette has been a trusted advisor, strategic business partner and an invaluable colleague to our Executive Office," said Caterpillar Chairman and CEO Jim Umpleby. "She strengthened the legal function while supporting the execution of our strategy for profitable growth and helped lead Caterpillar through complex matters while reinforcing our commitment to help our customers build a better, more sustainable world. We have relied on Suzette's exemplary leadership, advice and sound judgment over the years, and her contributions to Caterpillar went far beyond the Law, Security and Public Policy division. I thank Suzette for her dedicated service."

Owens joined Caterpillar in 2019 as associate general counsel, litigation & investigations, after 15 years of increasing responsibility at the U.S. Attorney's Office of the Department of Justice where he last served as a deputy chief. At Caterpillar, Owens has led teams in various practice areas in the legal department with a focus on supporting the business goals and serving the customer. In his current role, Owens is responsible for overseeing and providing legal guidance for commercial and transactional matters for Services, Distribution & Digital, as well as enterprise-wide internal investigations, and tax and litigation matters. He received his juris doctorate from Santa Clara University School of Law and his bachelor's degree from the University of Wisconsin Oshkosh.

"We are fortunate to have a deep bench of talent at Caterpillar," said Umpleby. "Derek brings a unique set of skills that will benefit our Law, Security and Public Policy team and the entire enterprise. On behalf of our leadership team and the board of directors, I wish Suzette all the best in her retirement and congratulate Derek on his new role."

About Caterpillar
With 2022 sales and revenues of $59.4 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/socialmedia.html.

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SOURCE Caterpillar Inc.