Jim Umpleby

D. James Umpleby III is an American businessman. He became the CEO of Caterpillar Inc. as of January 2017, and chairman of the Caterpillar board of directors in December 2018.[2]

Jim Umpleby
NationalityAmerican
Alma materRose-Hulman Institute of Technology (1980)
OccupationBusiness Executive
Years active1980 (1980)–present
EmployerCaterpillar Inc.
TitleChairman & CEO, Caterpillar Inc.
TermStarting 2017
PredecessorDouglas R. Oberhelman
Spouse(s)Katherine Umpleby[1]
Children2 children[1]

Biography

Early life

Umpleby was raised in Highland, Indiana[3] and attended Rose-Hulman Institute of Technology. He graduated with a Bachelor's degree in 1980.[4]

Career

After graduating from Rose-Hulman, Umpleby joined Solar Turbines, Inc. in San Diego, California shortly thereafter.[4][5] Solar Turbines, a wholly owned Caterpillar subsidiary, is one of the world's leading manufacturers of industrial gas turbine systems. Over the course of his career at Caterpillar, Umpleby has held leadership positions in a variety of functions across the world. Umpleby became a Caterpillar vice president and president of Solar Turbines in 2010. Immediately prior to becoming CEO in 2017, Umpleby was group president of Caterpillar’s energy and transportation business segment.[6] On December 12, 2018 the Caterpillar board of directors elected Umpleby to be chairman of the board, effective immediately, in addition to his CEO role.[7]

In September 2017, Caterpillar held a conference for investors at which Umpleby presented the details of a new corporate strategy focused on profitable growth, through expanded product offerings, increased focus on operational excellence and providing services in digitally-enabled technologies and other areas that support customers. Barron’s, a U.S.-based financial magazine, described the new corporate strategy stating, “…investors can expect a more return-focused company . . . with a new approach similar to what we have seen from its peers, such as Deere (DE), Parker Hannifin (PH), Cummins (CMI) and Illinois Tool Works (ITW) that are further along this journey. If executed, we believe that this should drive improved financial returns, which are currently in the middle of the pack, and a possible re-rating of the stock over time.” [8][9]

Umpleby was elected to the board of directors of the Chevron Corporation effective March 1, 2018.[10]

References
  1. "Donald Umpleby Jr" (obituary), Post Tribune via legacy.com, July 1, 2015. Retrieved 2017-02-01.
  2. "Caterpillar | Caterpillar Board of Directors Elects CEO Jim Umpleby as Chairman; Elects Dave Calhoun as Presiding Director". www.caterpillar.com. Retrieved December 14, 2018.
  3. Nightengale, Laura, "Who is incoming Caterpillar CEO Jim Umpleby?", Journal Star, October 17, 2016. Retrieved 2017-01-31.
  4. "Executive Profile: D. James Umpleby III", bloomberg.com. Retrieved 2017-01-31.
  5. "History". mysolar.cat.com. Solar Turbines Incorporated. 2006. Archived from the original on November 19, 2010. Retrieved November 19, 2010.
  6. "Caterpillar CEO Jim Umpleby to Present Rose-Hulman Commencement Address". Rose-Hulman Institute of Technology. Retrieved November 1, 2020.
  7. "Caterpillar CEO Jim Umpleby to take on chairman role". Reuters. December 13, 2018. Retrieved December 14, 2018.
  8. "New Caterpillar CEO Focuses on Returns". www.barrons.com. Retrieved November 1, 2020.
  9. Levisohn, Ben. "Caterpillar: There's a New Sheriff in Town". www.barrons.com. Retrieved November 1, 2020.
  10. Scheyder, Ernest (February 1, 2018). "Chevron adds Caterpillar CEO to board after Watson exit". Reuters. Retrieved October 27, 2020.
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