IRVING, Texas — Caterpillar Inc. recently announced a change in its financial leadership, with Chief Financial Officer Andrew Bonfield electing to retire effective October 1, after eight years with the company.
Caterpillar veteran Kyle Epley has been appointed as the new CFO. Epley will begin his new role with the company on May 1. Bonfield will assume an advisory role during the transition until his retirement, officials say.
Bonfield’s planned retirement follows a period of transformation and record financial performance for Caterpillar, including delivering the highest full-year sales and revenues in the company’s history. He was also named 2025 CFO of the Year by the CFO Leadership Council and Chief Executive Group.
“Andrew’s leadership has been instrumental to Caterpillar’s success,” Joe Creed, Caterpillar chairman and CEO, says. “He brought exceptional financial expertise, a relentless focus on disciplined decision-making and a deep commitment to our customers and shareholders”.
Incoming CFO Kyle Epley brings nearly three decades of Caterpillar experience to the role. He currently serves as senior vice president of Global Finance Services, leading a team that manages enterprise-wide finance operations, strategy, planning, treasury, pricing, real estate, and facilities.
Epley has also held senior finance leadership positions with Caterpillar, including division CFO and corporate controller.
Creed expressed strong confidence in Epley’s appointment, saying, “Kyle is an outstanding leader with deep institutional knowledge and a proven track record of working with the business to drive results”.
Bonfield supported the selection of his successor, saying, “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”.
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