PEORIA (dpa-AFX) - Caterpillar Inc. (CAT), a manufacturer of construction and mining equipment, on Tuesday announced Chairman and Chief Executive Officer James Umpleby III will become Executive Chairman of the Board. Chief Operating Officer Joseph Creed will take over as CEO.
Both transitions will take place on May 1.
Joseph Creed will join the board. He joined the company in 1997 and became the COO in 2023.
Umpleby has been serving as CEO since January 2017.
In the pre-market trading, Caterpillar is 0.16% higher at $298 on the New York Stock Exchange.
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