The Board of Directors of Caterpillar Inc. has decided to waive the policy that required Caterpillar’s Chairman and CEO, Jim Umpleby, to retire at the age of 65. This decision was announced by Caterpillar Inc. Umpleby has said that he is willing to continue doing his duties even after he reaches the age of 65 in February 2023.
Debra Reed-Klages, presiding director of Caterpillar’s Board of Directors, stated, “Waiving the required retirement policy for Jim gives the Board greater flexibility with its CEO succession process.” “Jim has provided the firm with great strategic and operational leadership, and we look forward to his continuing to lead the Caterpillar team in the future.”
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