Oct 17 (Reuters) - Caterpillar Inc
* Caterpillar Chairman and CEO Doug Oberhelman elects to retire in 2017; Jim Umpleby elected as Caterpillar’s next CEO; Dave Calhoun to become non-executive chairman of the board
* A replacement for Umpleby will be announced at a later date
* Oberhelman will remain as executive chairman of Caterpillar until March 31, 2017, when he will retire
* Calhoun is senior managing director and head of private equity portfolio operations of Blackstone Group L.P.
* Caterpillar - Ed Rust, presiding director, to remain on board, but will no longer hold title of presiding director once Calhoun becomes non-executive chairman
* Jim Umpleby, currently Caterpillar group president with responsibility for energy & transportation, to also join Caterpillar board Source text for Eikon: Further company coverage: