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CAT ceo gets raise

Thu, 12 Apr 2012 08:26:33 CDT
By: AP

The CEO of Peoria-based heavy equipment maker Caterpillar Incorporated saw the value of his compensation jump 42 percent to $14.8 million last year as the company's global sales grew nearly as much. An analysis of a document the company filed yesterday with the Securities and Exchange Commission shows the world's largest maker of construction and mining equipment gave Doug Oberhelman $1.4 million in salary plus stock options worth $8.3 million and incentive pay of $4.9 million.   Caterpillar's board said its CEO deserved the additional compensation because the company completed several acquisitions successfully and still delivered strong results. Caterpillar's net income soared 83 percent in 2011 to $4.9 billion, while its revenue grew 41 percent to $60.1 billion.

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