A transition is underway at Caterpillar as chief financial officer Andrew Bonfield hands over the reins to experienced executive Kyle Epley.
Bonfield is set to retire on October 1 after eight years with Caterpillar. In his place, Epley will become the chief financial officer on May 1, with Bonfield serving as an advisor during the transition period.
“Andrew’s leadership has been instrumental to Caterpillar’s success,” Caterpillar chief executive officer Joe Creed said.
“He brought exceptional financial expertise, a relentless focus on disciplined decision-making and a deep commitment to our customers and shareholders.
“With Andrew at the forefront, our global finance organisation became a strategic advantage for the enterprise, and his impact will be felt long after his retirement.”
Epley has been at Caterpillar for nearly three decades and is currently the senior vice president of global finance services with a remit across finance operations, strategy, planning, treasury, pricing, real estate and facilities. Epley has had several roles with Caterpillar, including division CFO and corporate controller.
“Kyle is an outstanding leader with deep institutional knowledge and a proven track record of working with the business to drive results,” Creed said.
“He understands our strategy, our culture and our mission of solving our customers’ toughest challenges. I have great confidence in Kyle’s ability to build on our strong foundation to lead Caterpillar’s finance organisation into the future.”
Bonfield said Epley would be a successful replacement as chief financial officer.
“It has been a privilege to serve as Caterpillar’s CFO and to work alongside such a talented team,” Bonfield said.
“Kyle is the right leader for this next chapter. He brings the experience, judgment, and customer-focused mindset needed to help Caterpillar continue to deliver profitable growth and create long-term value. I look forward to supporting him during the transition and watching Caterpillar continue to thrive.”
