Jim Umpleby will retire as Caterpillar’s executive chairman and member of the company’s board of directors, effective April 1.
Following Umpleby’s retirement, Joe Creed will assume the role of chairman of the board. Creed was named the company’s CEO last May, succeeding Umpleby, who held the position for eight years.
“On behalf of the board and the entire Caterpillar team worldwide, I want to express my heartfelt thanks to Jim whose years of dedicated service have made a lasting impact and helped shape our legacy of excellence,” Creed says. “I am honored to carry the torch forward as chairman of the board as we further Caterpillar’s mission of solving our customers’ toughest challenges.”
Umpleby joined Caterpillar in 1997 and held several positions across multiple divisions, including COO and group president of energy and transportation. He became CEO in 2017.
“It’s been an honor to work alongside Caterpillar’s talented global team, and I’m very proud of all we accomplished together,” Umpleby says. “I am confident that Joe is the right leader to guide Caterpillar as it embarks upon a new century full of exciting opportunities. As I enter retirement, my greatest satisfaction comes from the conviction that Caterpillar’s best days lie ahead.”
