By Colin Kellaher

 

Caterpillar Inc. on Friday said its two longest-serving directors, Juan Gallardo and William Osborn, have retired from the board.

The Deerfield, Ill., maker of bulldozers and excavators also said David MacLennan, board chair and chief executive of agribusiness giant Cargill Inc., has joined the board.

Messrs. Gallardo and Osborn are both 73 years old, nearing the board's mandatory retirement age of 74. Mr. MacLennan, who will serve on the board's audit committee, is 61.

Mr. Gallardo, who joined Caterpillar's board in 1998, is chairman of Organizacion Cultiba S.A.B. de C.V., which controls one of Mexico's biggest soft-drink bottlers.

Mr. Osborn, a former chairman and CEO of Northern Trust Corp., has been a director since 2000.

The changes, which were effective Wednesday, reduce Caterpillar's board to 11 members from 12.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 16, 2021 09:47 ET (13:47 GMT)

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