Caterpillar Inc. announced that, after 45 years of service, including eight years as 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 E. Creed will assume the role of Chairman of the Board of Directors. As part of this leadership transition, Debra L. 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.
Creed joined Caterpillar in 1997 and has held numerous positions of increasing responsibility across multiple divisions of the company, including Chief Operating Officer and Group President of Energy & Transportation. He was appointed CEO and became a member of the Board of Directors on May 1, 2025. 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.
