- Great American Business Leaders of the Twentieth Century
Donald V. Fites
Caterpillar Tractor Company
1990 - 1999
Construction & Real Estate
b. 1934
| Education |  |
|---|---|
| Undergraduate | Valparaiso University |
| Graduate | MS, Massachusetts Institute of Technology |
| Personal | |
|---|---|
| Born-Died | 1934 |
| Birthplace | Indiana (IN) |
| Race | White |
| Father | Farmer / Rancher |
During his tenure as CEO, Fites grew Caterpillar, the world’s #1 producer of earth-moving machinery, from a $10 billion company to a $20 billion plus company. Fites successfully implemented a $1.8 billion modernization program to cut costs and raise profits. Fites’ campaign to decentralize Caterpillar and motivate managers by tying their compensation to return on asset targets was hugely successful.