Caterpillar Names Creed Next CEO as Umpleby Moves to Executive Chairman

Dow Jones

Apr 15, 2025

By Denny Jacob

Caterpillar said Joseph Creed will move up to chief executive officer while D. James Umpleby III transitions to executive chairman.

The machinery maker said Umpleby, who also serves as chairman, will change roles on May 1; he has led Caterpillar as CEO since 2017. Creed, who serves as chief operating officer, will become CEO and join the board at that time.

Creed joined the company in 1997 and held numerous positions during his tenure, including chief financial officer of Caterpillar's energy and transportation business segment and vice president of the finance services division. He was appointed to the COO role in November 2023.

Caterpillar on Tuesday also announced that Debra Reed-Klages, who has served as a director since June 2015, will remain on the board as independent presiding director, a position she has held since June 2022.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 15, 2025 06:59 ET (10:59 GMT)

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James Umpleby III transitions to executive chairman. \n\n\n  The machinery maker said Umpleby, who also serves as chairman, will change roles on May 1; he has led Caterpillar as CEO since 2017. Creed, who serves as chief operating officer, will become CEO and join the board at that time. \n\n\n  Creed joined the company in 1997 and held numerous positions during his tenure, including chief financial officer of Caterpillar's energy and transportation business segment and vice president of the finance services division. 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