James Owens, former chairman and CEO of Caterpillar, has joined investment firm Kohlberg Kravis Roberts & Co. as a senior advisor to its portfolio management committee.
Owens worked at Caterpillar for about 38 years, starting as an in-house economist, serving as chairman and CEO from 2004 to 2010.
“[Owens] led the company in achieving rapid growth and successfully navigated Caterpillar through the recent economic recession,” said Henry Kravis and George Roberts in a joint statement. “We will benefit greatly from both his depth of experience in the industrial sector and his recognized leadership on global economic issues as we pursue new investments and support our existing portfolio companies.”
Owens also serves on the boards of Alcoa, IBM and Morgan Stanley, and was a member of President Obama’s Economic Recovery Advisory Board.