IRVING, Texas, April 15, 2025 /PRNewswire/ — Then 8 years as CEO and just about 45 years of carrier, Caterpillar Inc. (NYSE: CAT) Chairman and CEO D. James Umpleby III will grow to be Government Chairman of the Board efficient Might 1. Important Running Officer (COO) Joseph E. Creed, a 28-year Caterpillar veteran, will prevail him as CEO and fasten the Board of Administrators Might 1.

Then assuming the position of CEO on January 1, 2017, Umpleby led the improvement and execution of a brandnew technique for long-term successful enlargement, developing important shareholder price. In 2024, Caterpillar accomplished document full-year adjusted benefit consistent with proportion, which greater greater than sixfold throughout Umpleby’s tenure as CEO.

“I’m grateful to have had the opportunity to work with Caterpillar’s dedicated global team of employees and dealers for my entire career. As we celebrate our 100^th anniversary, we honor those who came before us establishing a culture of excellence serving our customers.” mentioned Umpleby.  “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 and has held various positions of accelerating duty throughout a couple of sections of Caterpillar. He was once promoted to Important Monetary Officer for Caterpillar’s Power & Transportation industry branch in 2013, after to Vice President of Caterpillar’s Finance Products and services Section in 2017. Creed additionally served as meantime Important Monetary Officer for Caterpillar in 2018. He after changed into Vice President of the Oil & Gasoline and Marine Section and the Electrical Energy Section. In 2021, he was once promoted to Team President of Power & Transportation. Efficient November 1, 2023, Creed was once appointed to the newly created place of Important Running Officer.

“For 100 years, our incredible people have been the foundation of Caterpillar’s success,” mentioned Creed. “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.”

Debra L. Reed-Klages, who has served as a Director since June 2015, will stay at the Board as isolated Presiding Director, a place she has held since June 2022.

“We are deeply grateful for Jim’s leadership and appreciate the outstanding results he achieved during his tenure. His impact on our customers, dealers, shareholders and employees will continue for years to come,” Reed-Klages mentioned. “Joe’s selection as CEO is the result of a multi-year succession planning process by the Board of Directors. He is a proven leader with significant experience in Caterpillar’s global businesses. We are confident Joe will position Caterpillar for continued future success.”

About Caterpillar
With 2024 gross sales and revenues of $64.8 billion, Caterpillar Inc. is the sector’s well-known producer of building and mining apparatus, off-highway diesel and herbal gasoline engines, business gasoline generators and diesel-electric locomotives. For 100 years, we’ve been serving to consumers manufacture a greater, extra sustainable international and are dedicated and contributing to a reduced-carbon life. Our cutting edge services, sponsored through our world broker community, serve remarkable price that is helping consumers prevail. Caterpillar does industry on each continent, basically working thru 3 number one departments – Building Industries, Useful resource Industries and Power & Transportation – and offering financing and homogeneous services and products thru our Monetary Merchandise branch. Seek advice from us at caterpillar.com or fasten the dialog on our social media channels at caterpillar.com/en/news/social-media.html.

Ahead-Taking a look Statements
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Caterpillar’s untouched effects would possibly vary materially from the ones described or implied in our forward-looking statements according to various elements, together with, however no longer restricted to: (i) world and regional financial statuses and financial statuses within the industries we handover; (ii) commodity value adjustments, subject matter value will increase, fluctuations in call for for our merchandise or important shortages of subject matter; (iii) executive financial or fiscal insurance policies; (iv) political and financial dangers, business instability and occasions past our keep an eye on within the nations through which we perform; (v) global business insurance policies and their affect on call for for our merchandise and our aggressive place, together with the imposition of brandnew price lists or adjustments in present tariff charges; (vi) our skill to form, construct and marketplace property merchandise that meet our consumers’ wishes; (vii) the affect of the extremely aggressive condition through which we perform on our gross sales and pricing; (viii) data era safety ultimatum and pc crime; (ix) stock control choices and sourcing practices of our sellers and our OEM consumers; (x) a failure to understand, or a extend in knowing, the entire expected advantages of our acquisitions, joint ventures or divestitures; (xi) union disputes or alternative worker members of the family problems; (xii) opposed results of sudden occasions; (xiii) disruptions or volatility in world monetary markets restricting our resources of liquidity or the liquidity of our consumers, sellers and providers; (xiv) failure to guard our credit score rankings and doable ensuing will increase to our value of borrowing and opposed results on our value of finances, liquidity, aggressive place and get right of entry to to capital markets; (xv) our Monetary Merchandise branch’s dangers related to the monetary services and products business; (xvi) adjustments in rates of interest or marketplace liquidity statuses; (xvii) an building up in delinquencies, repossessions or web losses of Cat Monetary’s consumers; (xviii) foreign money fluctuations; (xix) our or Cat Monetary’s compliance with monetary and alternative restrictive covenants in debt assurances; (xx) greater 401-k plan investment responsibilities; (xxi) alleged or untouched violations of business or anti-corruption rules and laws; (xxii) supplementary tax expense or publicity, together with the affect of U.S. tax reform; (xxiii) important felony lawsuits, claims, proceedings or executive investigations; (xxiv) brandnew laws or adjustments in monetary services and products laws; (xxv) compliance with environmental rules and laws; (xxvi) terrible occasions, together with world pandemics such because the COVID-19 pandemic; and (xxvii) alternative elements described in additional component in Caterpillar’s Methods 10-Q, 10-Okay and alternative filings with the Securities and Change Fee.

SOURCE Caterpillar Inc.