Chevron names Caterpillar CEO as board member

Chevron Corporation said Caterpillar CEO Jim Umpleby has been elected to Chevron’s board of directors.

Umpleby will serve on the board nominating and governance committee as well as the management compensation committee effective March 1.

“Jim Umpleby brings valuable perspective to the board as chief executive of one of the world’s leading manufacturers of heavy equipment,” said Michael K. Wirth, Chevron’s chairman of the board and chief executive officer.  “He has a strong background in varied dimensions that are relevant to Chevron’s business, including international policy, heavy equipment engineering, environmental policy, and global workforce development.”

Umpleby, 59, has been the CEO of Caterpillar since January 2017 and is a member of the board of directors of Caterpillar Inc.

 He joined a Caterpillar subsidiary, Solar Turbines, in 1980, and held leadership positions in a wide variety of functions at Caterpillar. Umpleby also served as group president of Caterpillar’s Energy & Transportation business segment in 2013. 

A graduate of the Rose-Hulman Institute of Technology with a Bachelor of Science degree in mechanical engineering, Umpleby has also completed an executive leadership program at the International Institute for Management Development in Lausanne, Switzerland.

Meanwhile, Chevron also named Bruce Niemeyer as the corporate vice president of strategic planning, effective Feb 1.  Niemeyer is currently vice president of Chevron’s mid-continent business unit.

In his new role, Niemeyer, 56, will be responsible for setting the strategic direction for the company, allocating capital and other resources and determining operating unit performance measures and targets, the company said.  He will report to Mark A. Nelson, vice president of midstream, strategy and policy.

“Bruce has been instrumental in developing Chevron’s business in the mid-continent United States, including Chevron’s significant Permian assets,” said Michael K. Wirth, chairman and chief executive officer of Chevron Corporation.

“Bruce’s strong operating background, coupled with his strategic planning experience, make him exceptionally well-suited to lead our corporate strategy function as we look to further optimise our portfolio and position Chevron to win in any price environment.”

Previously, Niemeyer was vice president of the Appalachian/Michigan Strategic Business Unit.  In addition, Niemeyer served as general manager of strategy and planning for Chevron North America Exploration and Production Co.  He joined Texaco in 2000 from Atlantic Richfield Co.