Doug Oberhelman

 Caterpillar says CEO Doug Oberhelman will retire from the company next year and will be replaced with Jim Umpleby, an executive who has  worked at the company for more than three decades. 

Caterpillar

Peoria Mayor Jim Ardis says he expects the city and region to absorb a sizable hit as manufacturer Caterpillar plans to reduce its workforce by as many as 10,000 people.  

Ardis told The Associated Press Thursday that the company has not shared specifics about the local impact of what could amount to an 8 percent reduction to its global workforce of 126,800 by 2018. Half of those cuts are expected by the end of next year.  

WUIS

Governor-elect Bruce Rauner is naming a transition team of advisers that includes former White House chief of staff Bill Daley, a Democrat.  
It also includes former Gov. Jim Edgar, Republican Congressman Aaron Schock and former Southern Illinois University President Glenn Poshard, another Democrat.  

The Republican venture capitalist ousted Democratic Gov. Pat Quinn in a close contest this week.