IRVING, Texas - Caterpillar Inc., a construction machinery manufacturer, announced that D. James Umpleby III will retire as Executive Chairman and from the Board of Directors effective April 1, 2026, concluding 45 years of service with the company, including eight years as CEO. At that time, CEO Joseph E. Creed will take on the role of Chairman of the Board.
Debra L. Reed-Klages, a director since June 2015 and independent presiding director since June 2022, will continue to serve as lead independent director. He said, “On behalf of the Board, we thank Jim for his exemplary leadership as CEO and director. We look forward to working with Joe in his new role as Chairman.”
Mr. Joseph Creed, said, “Jim’s years of dedicated service have left a lasting impact on Caterpillar and helped shape our legacy of excellence. I am honored to assume the role of Chairman and look forward to advancing Caterpillar’s mission of solving our customers’ toughest challenges.”
Creed joined Caterpillar in 1997 and has held a variety of leadership roles across multiple divisions, including Chief Operating Officer and Group President of Energy & Transportation. He was appointed CEO and joined the Board on May 1, 2025.
Since becoming CEO in 2017, Umpleby led the company’s long-term growth strategy, delivering significant value to shareholders. In May 2025, he transitioned to Executive Chairman to ensure a smooth leadership handover.
D. James Umpleby, said, “Working with Caterpillar’s talented global team has been an honor. I am proud of what we accomplished and confident that Joe is the right leader to guide Caterpillar into a new century of opportunity. As I retire, I take satisfaction in knowing the company’s best days are ahead.”
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