Caterpillar’s CEO, D. James Umpleby III, will retire as executive chairman and as a member of the Caterpillar board of directors effective April 1, 2026. At that time, CEO Joseph Creed will assume the role of chairman of the board of directors.
Umpleby served the company for 45 years of service, including eight years as the CEO. After becoming CEO in 2017, Umpleby led the development and execution of a new strategy for long-term profitable growth, delivering significant value to shareholders. In May 2025, Umpleby transitioned to executive chairman, playing a key role in ensuring a smooth leadership transition for both the CEO position and the board.
As part of this leadership transition, Debra Reed-Klages, who has served as a director since June 2015 and independent presiding director since June 2022, will continue to serve as lead independent director.
“On behalf of the board of directors, we want to express our gratitude to Jim for his exemplary service as CEO and as a director. We look forward to continuing to work with Joe in his new role as chairman of the board,” said Reed-Klages.
Creed joined Caterpillar in 1997 and has held numerous positions of increasing responsibility across multiple divisions of the company, including chief operating officer and president of energy and transportation. He was appointed CEO and became a member of the board of directors on May 1, 2025.
