Rose-Hulman Institute of Technology graduate and trustee Jim Umpleby will take over next year as chief executive officer of Illinois-based Caterpillar Inc. He has been with the company for 35 years and will take over for Doug Oberhelman, who will retire next year. Umpleby currently leads Caterpillar’s energy and transportation business.
He earned a degree in mechanical engineering in 1980.
Umpleby 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.
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."