IRVING,
Texas, Oct. 16, 2023 /PRNewswire/ -- Caterpillar
Inc. (NYSE: CAT) announced today that Joseph E. Creed, group president of Energy &
Transportation, has been appointed to the newly created position of
chief operating officer, effective Nov. 1,
2023. In this newly created position, Creed will report to
Jim Umpleby, chairman and chief
executive officer.
Reporting to Creed will be group presidents Tony Fassino of Construction Industries,
Denise Johnson of Resource
Industries and Bob De Lange of
Services, Distribution and Digital. Creed's replacement as group
president of Energy & Transportation will be named at a later
date and will also report to the chief operating officer.
"Joe's extensive financial experience across Caterpillar's
engine and machine businesses, combined with his leadership of our
Energy & Transportation segment, position him well for his new
role," said Caterpillar Chairman and CEO Jim Umpleby. "Joe will help lead the continued
execution of our strategy for profitable growth and pursue the
market opportunities associated with the energy transition and
growing global energy demand."
Andrew Bonfield, chief financial
officer, Suzette Long, chief legal
officer and, upon her retirement, her successor, Derek Owens and Cheryl
Johnson, chief human resources officer will continue
reporting to Umpleby.
Creed joined Caterpillar in 1997 and has held numerous positions
of increased responsibility across multiple divisions of
Caterpillar. He was promoted to chief financial officer for
Caterpillar's Energy & Transportation business segment in 2013,
then to vice president of Caterpillar's Finance Services Division
in 2017. Creed also served as interim chief financial officer
for Caterpillar in 2018. He then became vice president of the Oil
& Gas and Marine Division and the Electric Power Division. In
2021, he was promoted to group president of Energy &
Transportation.
Creed graduated from Western Illinois
University with a bachelor's degree in accounting. He
completed Caterpillar's flagship executive leadership program
conducted by Stanford University
specifically for Caterpillar leaders, dealers and suppliers. He is
a certified public accountant.
Creed serves on the Western Illinois
University President's National Advisory Council, is an
executive board member of the Caterpillar Foundation, and is the
executive sponsor of the Caterpillar Employee Resource Group known
as ADEPT (Abled and Disabled Employees Partnering
Together). He is also a member of the board and past chairman
for Easterseals of Central
Illinois.
About Caterpillar
With 2022 sales and revenues of $59.4
billion, Caterpillar Inc. is the world's leading
manufacturer of construction and mining equipment, off-highway
diesel and natural gas engines, industrial gas turbines and
diesel-electric locomotives. For nearly 100 years, we've been
helping customers build a better, more sustainable world and are
committed and contributing to a reduced-carbon future. Our
innovative products and services, backed by our global dealer
network, provide exceptional value that helps customers succeed.
Caterpillar does business on every continent, principally operating
through three primary segments – Construction Industries, Resource
Industries and Energy & Transportation – and providing
financing and related services through our Financial Products
segment. Visit us at caterpillar.com or join the conversation
on our social media channels at
caterpillar.com/en/news/social-media.html.
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SOURCE Caterpillar Inc.