Irving-based Caterpillar Inc. has named CEO Joseph E. Creed as chairman of its board of directors, effective April 1, 2026, when current executive chairman and board member D. James Umpleby III retires.
As part of this leadership transition, Debra L. Reed-Klages, who has served as a director since June 2015 and independent presiding director since June 2022, will continue to serve as lead independent director.
“On behalf of the board of directors, we want to express our gratitude to Jim for his exemplary service as CEO and as a director. We look forward to continuing to work with Joe in his new role as chairman of the board,” Reed-Klages said in a statement.
Umpleby has 45 years of service with Caterpillar, including eight years as CEO.
“On behalf of the board and the entire Caterpillar team worldwide, I want to express my heartfelt thanks to Jim whose years of dedicated service have made a lasting impact and helped shape our legacy of excellence,” Creed added. “I’m honored to carry the torch forward as Chairman of the Board as we further Caterpillar’s mission of solving our customers’ toughest challenges.”
Since joining Caterpillar in 1997, Creed has held numerous positions of increasing responsibility across multiple divisions of the company, including chief operating officer and group president of energy & transportation. He was appointed CEO and became a member of the board on May 1, 2025.
After becoming CEO in 2017, Umpleby led the development and execution of a new strategy for long-term profitable growth, delivering significant value to shareholders. In May 2025, Umpleby transitioned to executive chairman, playing a key role in a smooth leadership transition for both the CEO position and the Board, Caterpillar said.
“It’s been an honor to work alongside Caterpillar’s talented global team, and I’m very proud of all we accomplished together,” said Umpleby. “I am confident that Joe is the right leader to guide Caterpillar as it embarks upon a new century full of exciting opportunities. As I enter retirement, my greatest satisfaction comes from the conviction that Caterpillar’s best days lie ahead.”
In December, Caterpillar expanded its DFW footprint by purchasing a building it says will help accommodate its continued growth in North Texas. The building, at 901 W. Walnut Hill Lane in Irving, is near the company’s existing headquarters at Williams Square Plaza in Las Colinas.
Don’t miss what’s next. Subscribe to Dallas Innovates.
Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.
R E A D N E X T
-
North Texas Innovation Is Boundary‑Breaking. Nominations for the Awards That Prove It Close Sept. 12D CEO and Dallas Innovates have expanded The Innovation Awards 2026 with more individual and company categories this year. Now is your chance to be part of the region’s defining recognition for innovators.
-
Current COO Joseph Creed joined Caterpillar in 1997 and has held numerous positions of increasing responsibility across multiple divisions of Caterpillar. He will succeed D. James Umpleby III as CEO, with Umpleby becoming executive chairman.
-
Founder Wayne Powell moves into the chairman role as the senior living operator—now overseeing 32 communities and more than 5,000 residents—prepares for its next phase of growth.
-
Schneider will remain involved as honorary vice chair as the board launches a national search for her successor.
-
Last week, Irving-based Caterpillar marked its 100th anniversary year with celebrations throughout the U.S. commemorating "a monumental moment" in the company's history. The company officially turns 100 on April 15, marking a century of "customer-centric innovation and industry-leading transformation"
