Caterpillar has named chief executive Jim Umpleby as chairman of the board, reversing the company’s decision to split the roles last year, reports The Wall Street Journal.
Though corporate governance experts argue that oversight and decision-making is improved if the two roles are separated, this only happens at about 40% of S&P 500 companies, according to MyLogIQ.
The leadership structure is reviewed by the board every two years, Caterpillar said in a statement last week, and at its Dec. 12 meeting it agreed to give Umpleby both roles.
Boards have been steadily reinforcing their ranks through the addition of more directors with military…
Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…
Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…
As artificial intelligence grows more accessible, boards may have no choice but to embrace it…
A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…
Companies with independent directors who've served on the board for more than 15 years are…