Caterpillar Elects New Chief Financial Officer
Caterpillar (NYSE: CAT) announced that CFO Andrew Bonfield will retire effective Oct. 1, 2026.
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Rhea-AI Summary
Caterpillar (NYSE: CAT) announced that CFO Andrew Bonfield will retire effective Oct. 1, 2026. Kyle Epley is appointed CFO effective May 1, 2026, with Bonfield serving in an advisory role through Oct. 1, 2026. Bonfield cited eight years with the company and stewardship during record results, including a single-quarter record of $19.1 billion in Q4 2025.
The move replaces a decorated finance leader with an internal successor who has nearly three decades of Caterpillar experience and prior division CFO and controller roles.
Positive
- Internal succession: Kyle Epley appointed CFO effective May 1, 2026
- Experienced successor: Epley brings nearly three decades of Caterpillar experience
- Record revenue: Single-quarter sales record of $19.1 billion in Q4 2025
Negative
- Transition period: Bonfield retires Oct. 1, 2026, creating a multi-month leadership handover
- Key finance leadership change: Potential short-term execution risk during CFO transition
Details
News Market Reaction – CAT
On Apr 9, the first trading day after this news, CAT closed 2.01% above the previous close.
Data tracked by StockTitan Argus for the Apr 9 session.
Key Figures
- Record quarterly sales
- $19.1 billion
- Single-quarter record, Q4 2025 sales and revenues under outgoing CFO
- CFO tenure
- 8 years
- Andrew Bonfield’s tenure at Caterpillar before planned retirement
- Retirement effective date
- Oct. 1, 2026
- Planned retirement date for CFO Andrew Bonfield
- New CFO start date
- May 1, 2026
- Effective date for Kyle Epley’s appointment as CFO
- CFO of the Year
- 2025
- Year Bonfield was named CFO of the Year by CFO Leadership Council
- Caterpillar experience
- Nearly three decades
- Approximate career length at Caterpillar for incoming CFO Kyle Epley
Historical Context
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24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Bonfield was named 2025 CFO of the Year by the CFO Leadership Council and Chief Executive Group. His planned retirement follows a period of record financial performance and transformation for the company. During Bonfield's tenure, Caterpillar strengthened its robust operating and execution model and delivered consistently strong returns for shareholders, including the highest full-year sales and revenues in Caterpillar's history and a single-quarter record of
"Andrew's leadership has been instrumental to Caterpillar's success," said Joe Creed, Caterpillar chairman and CEO. "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 organization became a strategic advantage for the enterprise, and his impact will be felt long after his retirement."
As part of a seamless transition, Bonfield will serve in an advisory role through Oct. 1, 2026.
Epley brings nearly three decades of Caterpillar experience to the role. Currently serving as senior vice president of Global Finance Services, he leads a global team managing enterprise-wide finance operations, strategy, planning, treasury, pricing, real estate and facilities. Throughout his career, Epley has held several senior finance leadership roles across the company, including division CFO and corporate controller, giving him extensive operational and financial insight across Caterpillar's diverse businesses.
"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 organization into the future."
Bonfield shares strong support for his successor and optimism about the company's direction.
"It has been a privilege to serve as Caterpillar's CFO and to work alongside such a talented team," said Bonfield. "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."
About Caterpillar
For more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of
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SOURCE Caterpillar Inc.
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