Caterpillar (NYSE:CAT) has announced that David L. Calhoun will not be standing for re-election to the company's board of directors at the upcoming 2024 annual meeting of shareholders.

Calhoun's decision to step down is not the result of any disagreement with the company.

The Board expressed its gratitude for Calhoun's many years of service and valuable contributions, acknowledging his dedicated and excellent service throughout his tenure.