"The board of Caterpillar is not only large, with 16 current members, but also well paid. Non-employee directors earned between $266,089 and $313,218 in total compensation for service on the company's board last year. Of 16 board members just one is female, seven have served for at least a decade, and there are certain relationships on the board that skirt the SEC rules for independence, but signal camaraderie among board members.For instance, two directors serve together on the board of Abbott Laboratories and two more serve together on the board of the Boeing Company. In fact, Caterpillar's board is a virtual who's who of blue-chip directors."