Caterpillar, the world’s biggest construction equipment maker, has announced that from May 1st, current chairman and chief operating officer Joseph E. Creed will take the company’s helm as chief executive.
Creed has been with Caterpillar for 28 years and succeeds James Umpleby III who will stand down after eight years in the role and almost 45 years with the company.
Creed joined Caterpillar in 1997 and has held the position of chief financial officer and group president of energy and transportation.
Creed said: “For 100 years, our incredible people have been the foundation of Caterpillar’s success. 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.”
Umpleby said: “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.”
Debra L. Reed-Klages, who has acted as a director since June 2015, will remain on the board as independent presiding director.
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