Caterpillar CEO Umpleby to Remain in Role Past Age 65
13 Oktober 2022 - 11:06PM
Dow Jones News
By Will Feuer
Caterpillar Inc. said its board of directors has waived the
company policy that would have required Chairman and Chief
Executive Jim Umpleby to retire at the age of 65.
Mr. Umpleby will turn 65 in February. He has agreed to stay in
his current role past then, the company said.
"Waiving the mandatory retirement policy for Jim provides the
Board greater flexibility with its CEO succession process," said
Debra Reed-Klages, presiding director of Caterpillar's board. "Jim
has provided strong strategic and operating leadership for the
company, and we look forward to his continued leadership of the
Caterpillar team."
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
October 13, 2022 16:51 ET (20:51 GMT)
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