Caterpillar recently announced several changes to its executive leadership team that it says will support succession planning and continued profitable growth.
Group President of Energy & Transportation Joseph Creed has been appointed to the newly created position of chief operating officer, effective Nov. 1.
Creed will report to Cat Chairman and Chief Executive Officer Jim Umpleby. 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 will be named later and will also report to him.
"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; Cheryl Johnson, chief human resources officer; Suzette Long, chief legal officer and, upon her retirement on Dec. 31, her successor, Derek Owens will continue reporting to Umpleby, the company says.
Creed joined Caterpillar in 1997 and has held numerous positions of increased responsibility across multiple divisions, including chief financial officer for the Energy & Transportation business segment, vice president of the Finance Services Division, interim chief financial officer, vice president of the Oil & Gas and Marine Division and the Electric Power Division, and group president of Energy & Transportation.
He is a graduate of Western Illinois University with a bachelor's degree in accounting and 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).
Senior Vice President of the Enterprise Strategy Division George Moubayed (right) will assume additional responsibilities as the Chief Sustainability and Strategy Officer from Lou Balmer-Millar (left), who is retiring on Dec. 31, 2023.
“George has a breadth of enterprise perspective and experience in executing our strategy for long-term profitable growth,” said Caterpillar Chairman and CEO Jim Umpleby. “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.”
The 25-year Caterpillar veteran has held several leadership positions, including vice president and general manager of load and haul products for Resource Industries and vice president for aftermarket solutions for the segment. He has a bachelor’s degree in engineering from McGill University in Montreal, Canada.
