---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-034874"
form_type: "8-K"
ticker: "CAT"
cik: "0000018230"
company_name: "CATERPILLAR INC"
filed_at: "2025-04-15T23:59:59+00:00"
generated_at: "2026-05-23T14:53:12.686396+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Caterpillar CEO Jim Umpleby to become Executive Chairman; COO Joe Creed elected CEO effective May 1, 2025

## Summary
- Joe Creed appointed CEO and board member; Jim Umpleby transitions to Executive Chairman, effective May 1, 2025.
- Creed salary increased to $1.5M, target AIP 160% of salary, LTIP grant $5.5M (50% PSUs, 25% NQSOs, 25% RSUs).
- Umpleby salary reduced to $1.2M, target AIP 125% of salary.
- Umpleby led strategy driving over sixfold increase in adjusted profit per share during CEO tenure; 2024 record.
- Succession follows multi-year board planning process; Debra Reed-Klages remains independent Presiding Director.

## SEC filing metadata
- accession: 0001104659-25-034874
- form_type: 8-K
- ticker: CAT
- cik: 0000018230
- company_name: CATERPILLAR INC
- filed_at: 2025-04-15T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18230/000110465925034874/0001104659-25-034874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18230/000110465925034874/tm2511879d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-034874
- JSON: https://secwatch.observer/filing/0001104659-25-034874.json
- Plain text: https://secwatch.observer/filing/0001104659-25-034874.txt

## Key facts
- Executive change
  Joseph E. Creed was appointed as Chief Executive Officer at CATERPILLAR INC.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On April 15, 2025, Caterpillar Inc. (the “Company”) announced that, on April 9, 2025, the Board of Directors (the “Board”) of the Company appointed Joseph E. Creed (49) as the Company’s Chief Executive Officer and as a member of the Board, effective May 1, 2025, succeeding D. James Umpleby III.
  evidence_url: https://www.sec.gov/Archives/edgar/data/18230/000110465925034874/0001104659-25-034874-index.htm
- Executive change
  D. James Umpleby III changed role as Executive Chairman of the Board at CATERPILLAR INC.
  - Action: become
  - Role: Executive Chairman of the Board
  source text: Mr. Umpleby will continue to serve as Chief Executive Officer until May 1, 2025, at which point he will become Executive Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/18230/000110465925034874/0001104659-25-034874-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.