Former United States Trade Representative Joins Caterpillar Board of Directors
April 13 2009 - 1:00PM
PR Newswire (US)
PEORIA, Ill., April 13 /PRNewswire-FirstCall/ -- Caterpillar Inc.
(NYSE: CAT) announced today that Ambassador Susan C. Schwab, U.S.
Trade Representative from 2006 to 2009, has been elected to the
Caterpillar Board of Directors. Ambassador Schwab will begin as a
Caterpillar board member in June of 2009. Schwab, 54, currently is
a professor at the University of Maryland School of Public Policy.
She served from 1995 to 2003 as dean of the school and was then
president of the University System of Maryland Foundation prior to
joining the Bush administration in 2005. Schwab has a distinguished
public service career. In addition to serving as the top trade
representative for the United States, she previously was the
Director-General of the U.S. & Foreign Commercial Service of
the U.S. Department of Commerce, was a trade policy officer at the
U.S. Embassy in Tokyo, Japan, and was a senior aide to former U.S.
Senator John Danforth. Schwab also worked in the private sector as
director of business development for Motorola in Schaumburg,
Illinois. "We're fortunate Ambassador Schwab has agreed to join our
board," said Caterpillar Chairman and Chief Executive Officer Jim
Owens. "She brings an unequalled depth of knowledge, insight and
experience on international trade issues that will be an ideal fit
for Caterpillar's global business model and our long-standing
support of open trade. I am certain Team Caterpillar will benefit
from her thoughtful guidance as we manage through these challenging
economic times." Ambassador Schwab has a Bachelor of Arts Degree in
Political Economy from Williams College, a Master's Degree from
Stanford University and a Ph.D. in Public Administration and
International Business from The George Washington University. About
Caterpillar: For more than 80 years, Caterpillar Inc. has been
making progress possible and driving positive and sustainable
change on every continent. With 2008 sales and revenues of $51.324
billion, Caterpillar is the world's leading manufacturer of
construction and mining equipment, diesel and natural gas engines
and industrial gas turbines. The company also is a leading services
provider through Caterpillar Financial Services, Caterpillar
Remanufacturing Services, Caterpillar Logistics Services and
Progress Rail Services. More information is available at
http://www.cat.com/. SAFE HARBOR Certain statements in this release
relate to future events and expectations and as such constitute
forward-looking statements involving known and unknown factors that
may cause actual results of Caterpillar Inc. to be different from
those expressed or implied in the forward-looking statements. In
this context, words such as "will," "would," "expect,"
"anticipate," "should" or other similar words and phrases often
identify forward-looking statements made on behalf of Caterpillar.
It is important to note that actual results of the company may
differ materially from those described or implied in such
forward-looking statements based on a number of factors and
uncertainties, including, but not limited to, (i) adverse change in
general economic conditions; (ii) adverse change in the industries
Caterpillar serves including construction, infrastructure, mining,
energy, marine and electric power generation; (iii) Caterpillar's
ability to manage material, including steel, and freight costs;
(iv) Caterpillar's ability to generate cash from operations, secure
external funding for its operations and manage its liquidity needs;
(v) material adverse change in customers' access to liquidity and
capital; (vi) currency exchange or interest rates changes; (vii)
political stability; (viii) market acceptance of the company's
products and services; (ix) significant changes in the competitive
environment; (x) epidemic diseases; (xi) severe change in weather
conditions negatively impacting operations; (xii) changes in law,
regulations and tax rates; and (xiii) other general economic,
business and financing conditions and factors described in more
detail in the company's Form 10-K filed with the Securities and
Exchange Commission on February 20, 2009. This filing is available
on our website at http://www.cat.com/sec_filings. We do not
undertake to update our forward-looking statements. DATASOURCE:
Caterpillar Inc. CONTACT: Jim Dugan, Corporate Public Affairs of
Caterpillar Inc., +1- 309-494-4100, Web site: http://www.cat.com/
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