Joseph E. Creed has been named to the newly created position of COO for Caterpillar. Creed is currently group president of energy & transportation, and his new position is effective Nov. 1, 2023. Creed will report to Jim Umpleby, chairman/CEO.
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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 as group president of Energy & Transportation will be named at a later date and will also report to the COO.
"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 Umpleby in a statement. "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, CFO, Suzette Long, chief legal officer and--upon her retirement--Derek Owens and Cheryl Johnson, chief human resources officer will continue reporting to Umpleby.
Creed joined Caterpillar in 1997 and has held numerous positions of increased responsibility across multiple divisions of Caterpillar. He was promoted to CFO for the energy & transportation business segment in 2013, then to VP of the finance services division in 2017. Creed also served as interim CFO in 2018. He then became VP of the oil & gas and marine division and the electric power division. In 2021, he was promoted to group president of energy & transportation.
Source: Caterpillar
