Caterpillar announced a board leadership transition where Executive Chairman D. James Umpleby III will resign from the Board of Directors, effective April 1, 2026. Following the resignation, current Chief Executive Officer Joseph E. Creed will assume the additional role of Chairman of the Board. The company also amended its bylaws to update a director title.
Key Details
- Leadership Transition: D. James Umpleby III, Executive Chairman and former CEO, will resign from the board effective April 1, 2026, after forty-five years with the company.
- Succession: Joseph E. Creed, the company's current CEO, will assume the title of Chairman of the Board on the same date, consolidating the CEO and Chairman roles.
- Board Structure: Concurrent with the transition, the Board of Directors will be reduced in size from ten to nine members.
- Bylaw Amendment: The company's bylaws were amended on January 6, 2026, to change the title of the board’s “Presiding Director” to “Lead Independent Director.”