Owens was named chief economist of Caterpillar Overseas S.A. in Geneva, Switzerland in 1975.

From 1980 until 1987 he held managerial positions in Peoria in the Accounting and Product Source Planning Departments.

In 1993 he came to Peoria as vice president and chief financial officer with administrative responsibility for the Corporate Services Division.

In 1995, Owens was named a group president and member of Caterpillar’s Executive Office.

Owens is a member of The Business Roundtable in Washington, DC, and the Global Advisory Council to The Conference Board in New York.