October 17, 2016 / 1:26 PM / 10 months ago

BRIEF-Caterpillar CEO Doug Oberhelman to retire in 2017

Oct 17 (Reuters) - Caterpillar Inc

* Caterpillar Chairman and CEO Doug Oberhelman elects to retire in 2017; Jim Umpleby elected as Caterpillar's next CEO; Dave Calhoun to become non-executive chairman of the board

* A replacement for Umpleby will be announced at a later date

* Oberhelman will remain as executive chairman of Caterpillar until March 31, 2017, when he will retire

* Calhoun is senior managing director and head of private equity portfolio operations of Blackstone Group L.P.

* Caterpillar - Ed Rust, presiding director, to remain on board, but will no longer hold title of presiding director once Calhoun becomes non-executive chairman

* Jim Umpleby, currently Caterpillar group president with responsibility for energy & transportation, to also join Caterpillar board Source text for Eikon: Further company coverage:

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