Rose-Hulman Grad to Lead Caterpillar
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA Rose-Hulman Institute of Technology graduate and trustee will take over next year as chief executive officer of Illinois-based Caterpillar Inc. (NYSE: CAT). Jim Umpleby, who earned a degree in mechanical engineering in 1980, will take over for Doug Oberhelman, who will retire next year.
Umpleby has been with Caterpillar for 35 years. He currently leads the company’s energy and transportation business. He began his career with Solar Turbines Inc., a wholly-owned subsidiary of Caterpillar, in San Diego. He rose through the ranks in various engineering, manufacturing, sales, marketing and customer service roles. He became president of Solar Turbines and a vice president of Caterpillar in 2010, and was named to Caterpillar’s executive office in 2013.
Rose-Hulman awarded Umpleby an honorary doctorate of engineering during the school’s 2016 commencement. He is a former student body president and became a member of Rose-Hulman’s board of trustees in 2014.
Umpleby will take over as CEO January 1. Oberhelman will retire March 31 after more than 41 years with Caterpillar. The company says Oberhelman led CAT to its highest sales and revenue in 2012, and, since then, has "successfully led the company through the unprecedented downturn affecting our key industries."