Caterpillar chief operating officer (COO) Joseph Creed, a 28-year Caterpillar veteran, has been appointed as company CEO. He will join the board of directors on May 1 2025.
After eight years as CEO and nearly 45 years of service, Caterpillar chairman and CEO D. James (Jim) Umpleby III will become executive chairman of the board effective May 1.
Jim took on the role of CEO on January 1 2017, and has led the development and execution of a new strategy for long-term profitable growth.
In 2024, Caterpillar achieved record full-year adjusted profit per share, which increased more than six-fold during Jim’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,” he said.
“As we celebrate our 100th anniversary, we honour those who came before us establishing a culture of excellence serving our customers.
I’m grateful to have had the opportunity to work with Caterpillar’s dedicated global team.
Jim 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.”
Joe joined Caterpillar in 1997 and has held numerous positions of increasing responsibility across multiple divisions of Caterpillar.
He was promoted to chief financial officer for Caterpillar’s Energy & Transportation business segment in 2013, then to vice president of Caterpillar’s Finance Services Division in 2017.
He also served as interim chief financial officer for Caterpillar in 2018 before becoming vice president of the Oil & Gas and Marine Division and the Electric Power Division.
Group president
In 2021, he was promoted to group president of Energy & Transportation and in 2023 he was appointed to the newly created position of chief operating officer.
“For 100 years, our incredible people have been the foundation of Caterpillar’s success,” said Joe.
“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 amasing team as we build upon Caterpillar’s legacy of excellence.”
