0958 ET - Caterpillar Chief Operating Officer Joe Creed will become chief executive May 1, succeeding CEO Jim Umpleby. The move was anticipated since Creed was promoted to COO in November 2023, a position usually reserved for the next chief executive. Umpleby, 67, who has been CEO since 2017, will remain as chairman. Creed, 49, joined the construction and mining equipment manufacturer in 1997 and cycled through a variety of the executive positions, including president of the engines and transportation business prior to becoming COO. Shares rise 0.6% to $299.91. (robert.tita@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 09:59 ET (13:59 GMT)
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