Cat waives retirement policy to retain CEO

Mike Hayes Consultant Editor, Construction Europe / KHL Content Studio

October 14, 2022

Caterpillar’s board of directors has asked chairman and CEO Jim Umpleby to continue his leadership of the world’s largest construction equipment manufacturer when he turns 65 in February 2023.

The board voted in favour of waiving the company’s traditional policy, requiring all employees to retire at 65.

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