By Emon Reiser

Caterpillar Chief Executive Officer Joe Creed has been elected executive chairman, succeeding D. James Umpleby III who will retire effective April 1.

Creed, who joined the company in 1997, was appointed CEO last year. He previously held numerous leadership roles at the Caterpillar, including chief operating officer and group president of energy and transportation.

Outgoing executive chairman Umpleby served as the company's CEO from 2017 until 2025. He's credited with leading a six-fold increase in full-year adjusted profit per share during his tenure. He previously led Caterpillar's energy and transportation business.

Debra L. Reed-Klages will continue to serve as lead independent director as part of the leadership transition.

Write to Emon Reiser at emon.reiser@wsj.com


(END) Dow Jones Newswires

01-06-26 1657ET