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Caterpillar Looks Outside for Executive Talent

Long known for promoting senior executives almost exclusively from within, Caterpillar increasingly is looking outside as it tries to overcome management shortcomings.

December 13, 2010

Long known for promoting senior executives almost exclusively from within, Caterpillar increasingly is looking outside as it tries to overcome management shortcomings, including a need for more sophisticated procurement of parts.

In the past, "there was a feeling that we knew better" how to run the business than outsiders, said Chief Executive Doug Oberhelman in an interview. The six top officers have worked at the maker of construction and mining equipment for an average of 33 years each.

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--Wall Street Journal

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