Caterpillar announced that CEO Joseph Creed will also assume the role of Chairman of the Board, effective April 1, 2026. This follows the planned retirement of current executive chairman James Umpleby III.
The company frames the transition as a structured succession. Debra Reed-Klages continues in her role as lead independent director.
Coinciding with the news, CEO Creed delivered a keynote address at the CES 2026 technology conference. During the event, Caterpillar unveiled the 'Cat AI Assistant,' a new artificial intelligence tool.
The tool is designed to help customers more easily manage, maintain, and operate their equipment. The presentation emphasized Caterpillar’s strategy of integrating advanced AI and autonomous systems to boost efficiency and safety on worksites.