Jim Umpleby will take over as executive chairman of the board at Caterpillar on May 1.
Umpleby has served Caterpillar as CEO over the last seven-plus years. Joe Creed, a 28-year Caterpillar employee, will succeed Umpleby as CEO and join the company’s board of directors May 1.
“I’m grateful to have had the opportunity to work with Caterpillar’s dedicated global team of employees and dealers for my entire career,” Umpleby says. “As we celebrate our 100th anniversary, we honor those who came before us establishing a culture of excellence serving our customers. I have great confidence in my successor Joe Creed and the entire executive office to lead our global team as Caterpillar embarks upon our second century of helping our customers build a better, more sustainable world.”
Creed joined Caterpillar in 1997. He was promoted to CFO for Caterpillar’s energy and transportation business segment in 2013, then to vice president of Caterpillar’s finance services division in 2017.
Creed also served as interim CFO for Caterpillar in 2018. He then became vice president of the oil and gas and marine division and the electric power division. In 2021, he was promoted to group president of energy and transportation. In 2023, Creed was appointed to the newly created position of COO.
“For 100 years, our incredible people have been the foundation of Caterpillar’s success,” Creed says. “I’m proud to work alongside our talented Caterpillar employees and dealers as we continue to support customers across our diverse businesses, from disaster recovery and building the world’s infrastructure to delivering critical minerals and reliable energy. I look forward to leading this amazing team as we build upon Caterpillar’s legacy of excellence.”
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