Irving-based Caterpillar Inc. has made two major executive announcements, appointing Joseph E. Creed, group president of its Energy & Transportation division, to the newly created position of chief operating officer, and naming George Moubayed, current SVP of Enterprise Strategy, to the additional role of chief sustainability and strategy officer.
Creed’s appointment is effective Nov. 1, and Moubayed’s move is effective on Jan. 1. Creed will report to Chairman and CEO Jim Umpleby.
“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,” Umpleby said in a statement. “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.”
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.
The company said 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.
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 as vice president of Caterpillar’s Finance Services Division in 2017. He also served as interim CFO for Caterpillar in 2018. Creed then became VP of the Oil & Gas and Marine Division and the Electric Power Division.
In 2021, Creed was promoted to group president of Energy & Transportation.
Sustainability and Strategy
Moubayed succeeds Chief Sustainability Officer Lou Balmer-Millar, who is retiring on Dec. 31, after over 20 years with the company. In his role as chief sustainability officer, Moubayed will report directly to Umpleby.
“George has a breadth of enterprise perspective and experience in executing our strategy for long-term profitable growth,” Umpleby said. “Sustainability is an integral part of this strategy as we help our customers achieve their climate-related objectives and build a better, more sustainable world.”
Moubayed has held several leadership positions in more than 25 years with Caterpillar.
Before his role within the Enterprise Strategy Division, Moubayed was vice president and general manager of load and haul products for Resource Industries, and previously served as vice president for aftermarket solutions for the segment.
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.
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