PEORIA, Ill. (AP) Caterpillar Inc.’s new CEO Doug Oberhelman is now also chairman of the board of the world’s largest maker of mining and construction equipment.

Oberhelman became chairman Nov. 1 following the retirement of Jim Owens.

Oberhelman became chief executive in July as part of a planned succession before Owens’ retirement. Oberhelman has worked for the Peoria, Ill. - based company since 1975.

Owens, who served as the company’s top executive from 2004 to this year, worked for Caterpillar for more than 38 years.