Caterpillar Inc.
Caterpillar Appoints New CEO and Adjusts Executive Compensation
Summary
On April 15, 2025, Caterpillar Inc. announced that Joseph E. Creed will succeed D. James Umpleby III as CEO, effective May 1, 2025. Umpleby will transition to the role of Executive Chairman. The Compensation and Human Resources Committee has approved an increase in Creed's annual salary to $1,500,000 and adjusted Umpleby's compensation as part of the transition.
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About Caterpillar Inc.
Caterpillar Inc. is a leading global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Renowned for its high-quality machinery and equipment, Caterpillar operates predominantly in the construction, mining, transportation, and energy sectors, providing essential machinery and solutions that drive significant projects worldwide. The company enhances productivity and efficiency through innovative technology and services, striving to advance sustainable practices and reduce environmental impact. Headquartered in Deerfield, Illinois, Caterpillar holds a pivotal role in the industrial segment by supporting large-scale infrastructure development and resource extraction projects across the globe, thereby considerably contributing to economic growth and modernization.
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