2003 Honorary Degree

Donald V. Fites Doctor Of Agriculture Donald V. Fites has been recognized for his contributions to international trade, university and industrial partnerships, and service to his community. Donald V. Fites Mr. Fites lives in Peoria, Ill., and is a retired chairman and chief executive officer of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, with about 72,000 employees worldwide. Born and raised in Tippecanoe County Indiana, Mr. Fites attended Valparaiso University and earned his bachelor’s degree in civil engineering, followed by a master’s degree in management from the Massachusetts Institute of Technology. He has received honorary doctor of law degrees from Bradley University, Wabash College and Valparaiso. Mr. Fites retired from Caterpillar in 1999 after nine years as chairman and chief executive officer. During that time he led the corporation through reorganization, restructuring the company into business units to achieve greater return on assets, better use of resources, a flatter organization, and greater focus on customers. He implemented several strategic initiatives that have strengthened Caterpillar’s global industry leadership, led to record revenues and profits, and positioned the company for growth and continued financial success. Mr. Fites’ 42-plus years with Caterpillar included 16 years in overseas management positions in South Africa, Central Europe, Japan and Brazil. He was promoted to corporate vice president in 1981, executive vice president in 1985, and president and chief operating officer in 1989. Mr. Fites now serves on the board of directors of Exxon Mobil Corp., Georgia-Pacific Corp., AT&T Wireless Services Inc., Wolverine World Wide, AK Steel Corp., and Oshkosh Truck Corp. He also serves as a member of the board of advisors of Thayer Capital Partners. A leading proponent of free trade, Mr. Fites is past chairman of The Business Roundtable, the U.S.-Japan Business Council, the National Foreign Trade Council and the Equipment Manufacturers’ Institute. He also served as a member of several other boards and councils, including the President’s Advisory Committee for Trade Policy and Negotiations under presidents Ronald Reagan, George Bush and Bill Clinton. Community activities include serving as chairman of The Salvation Army National Advisory Board, a trustee of the Carnegie Endowment for International Peace, and chairman of the World Methodist Council Financial Development Committee. Among his many awards, Mr. Fites was named CEO of the Year in 1995 by Financial World magazine.