James W. Owens is an American economist and manufacturing executive. He is the former chairman and
chief executive officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
of
Caterpillar Inc.
Caterpillar Inc. (stock symbol CAT) is an American ''Fortune'' 500 corporation and the world's largest construction-equipment manufacturer.
In 2018, Caterpillar was ranked number 65 on the ''Fortune'' 500 list and number 238 on the Global ''Fo ...
, the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. He held the positions from 1 February 2004 through 2010.
Biography
Early life
Owens is a native of
Elizabeth City, North Carolina
Elizabeth City is a city in Pasquotank County, North Carolina, Pasquotank County, North Carolina, United States. As of the 2020 census, it had a population of 18,629. Elizabeth City is the county seat and largest city of Pasquotank County. It ...
. Owens attended graduated from North Carolina State University, in 1973. During his time at the university, Owens received a
Bachelor of Science
A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years.
The first university to admit a student to the degree of Bachelor of Science was the University o ...
and
Master of Science
A Master of Science ( la, Magisterii Scientiae; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree in the field of science awarded by universities in many countries or a person holding such a degree. In contrast t ...
in
Textile Technology
Textile Manufacturing or Textile Engineering is a major industry. It is largely based on the conversion of fibre into yarn, then yarn into fabric. These are then dyed or printed, fabricated into cloth which is then converted into useful goods ...
and a
Ph.D.
A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...
in
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
.
Career
After joining the company in 1972 as a corporate economist, he has held numerous management positions.
Owens was named chief economist of Caterpillar Overseas S.A. in
, Switzerland in 1975. From 1980 until 1987 he held managerial positions in Peoria in the Accounting and Product Source Planning Departments. In 1987, he became managing director of P.T. Natra Raya, Caterpillar's joint venture in
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
. He held that position until 1990, when he was elected a corporate vice president and named president of Solar Turbines Incorporated, a Caterpillar subsidiary in
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the eighth most populous city in the United State ...
. In 1993 he came to Peoria as vice president and chief financial officer with administrative responsibility for the Corporate Services Division.
In 1995, Owens was named a group president and member of Caterpillar’s Executive Office. Over the next nine years as a group president, Owens was at various times responsible for 13 of the company’s 25 divisions. In December 2003, Caterpillar's board of directors named Owens vice chairman and appointed him chairman and chief executive officer effective February 1, 2004.
He is a director of the
Institute for International Economics
The Peterson Institute for International Economics (PIIE), known until 2006 as the Institute for International Economics (IIE), is an American think tank based in Washington, D.C. It was founded by C. Fred Bergsten in 1981 and has been led by ...
in
Washington, DC
)
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, image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan ...
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
Rhode Island
Rhode Island (, like ''road'') is a state in the New England region of the Northeastern United States. It is the smallest U.S. state by area and the seventh-least populous, with slightly fewer than 1.1 million residents as of 2020, but it ...
. Owens is a member of The Business Roundtable in Washington, DC, and the Global Advisory Council to
The Conference Board
The Conference Board, Inc. is a 501(c)(3) non-profit business membership and research group organization. It counts over 1,000 public and private corporations and other organizations as members, encompassing 60 countries. The Conference Board co ...
in New York. He is also a member of the Community Advisory Board of Saint Francis Medical Center and the Civic Federation Board in Peoria. He is a member of the Executive Committee of
Peoria Journal Star
The ''Journal Star'' is the major daily newspaper for Peoria, Illinois, and surrounding area. First owned locally, then employee-owned, it became a Copley Press entity in 1996. In 2007, the paper was sold to Fairport, New York-based GateHouse M ...
that Caterpillar was beginning to plan for Owens' retirement (he is nearing the Caterpillar mandatory retirement age of 65) and the transition to another chairman and CEO. On October 22, 2009 Caterpillar announced that Douglas R. Oberhelman would succeed Owens as CEO on July 1, 2010 and as chairman on October 31, 2010.