Caterpillar has appointed Joseph E. Creed to the newly created position of Chief Operating Officer.
Creed is currently Group President of Energy and Transportation at Caterpillar. He begins his new role on Nov. 1, reporting to Jim Umpleby, chairman and chief executive officer.
“Joe’s extensive financial experience across Caterpillar’s engine and machine businesses, combined with his leadership of our Energy and Transportation segment, position him well for his new role,” Umpleby said. “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.”
Group presidents Tony Fassino of Construction Industries, Denise Johnson of Resource Industries and Bob De Lange of Services, Distribution and Digital will report to Creed.
His replacement as Group President of Energy and Transportation will be named at a later date and will also report to the Chief Operating Officer.
Andrew Bonfield, Chief Financial Officer, Suzette Long, Chief Legal Officer and, upon her retirement, her successor, 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 the company.
He was promoted to chief financial officer for Caterpillar’s Energy and Transportation business segment in 2013, then to Vice President of Caterpillar’s Finance Services Division in 2017.
Creed also served as interim Chief Financial Officer in 2018. He then became Vice President of the Oil & Gas and Marine Division and the Electric Power Division.
In 2021, he was promoted to Group President of Energy & Transportation.
Creed graduated from Western Illinois University with a bachelor’s degree in accounting. He completed Caterpillar’s flagship executive leadership program conducted by Stanford University specifically for Caterpillar leaders, dealers and suppliers. He is 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). He is also a member of the board and past Chairman for Easterseals of Central Illinois.