Caterpillar Inc. (NYSE: CAT) announced that Chief Financial Officer Andrew Bonfield will retire effective Oct. 1, 2026, after eight years with the company. Kyle Epley, a Caterpillar veteran with nearly three decades of experience, will assume the CFO role on May 1, 2026.

Bonfield will serve in an advisory capacity during the transition period from May through October 2026. During his tenure as CFO, Caterpillar achieved record financial performance, including $67.6 billion in sales and revenues for 2025 and a single-quarter record of $19.1 billion in the fourth quarter of 2025.

Epley currently serves as senior vice president of Global Finance Services, where he leads enterprise-wide finance operations, strategy, planning, treasury, pricing, real estate and facilities. Throughout his career at Caterpillar, he has held various senior finance leadership positions, 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," said Joe Creed, Caterpillar chairman and CEO. "He understands our strategy, our culture and our mission of solving our customers' toughest challenges."

Bonfield was named 2025 CFO of the Year by the CFO Leadership Council and Chief Executive Group. The leadership transition comes as Caterpillar continues to operate as a manufacturer of construction and mining equipment, engines, industrial gas turbines and locomotives.

The information is based on a company press release.