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Get filing alertsCaterpillar names Kyle Epley as CFO effective May 1, replacing retiring Andrew Bonfield
Filed April 10, 2026 · Period ending April 7, 2026 · ~1 min read
Key Changes
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Kyle Epley, a 30-year Caterpillar veteran currently leading Global Finance Services, will become CFO on May 1, 2026, succeeding Andrew Bonfield who retires October 1 after a five-month transition.
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Epley's compensation includes $930,500 base salary, 115% annual bonus target, and $1.8 million in long-term incentives split between performance shares, stock options, and time-based equity.
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Bonfield will remain as CFO through April 30, then stay on as an employee through retirement, providing continuity during the leadership transition.
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Summary
Caterpillar announced a planned CFO succession, with Kyle Epley taking over from Andrew Bonfield on May 1, 2026. Epley brings three decades of experience at Caterpillar, most recently running the Global Finance Services Division since 2019, and has held key roles including corporate controller and division CFO.
Bonfield will retire October 1 after a five-month transition period, suggesting an orderly handoff rather than a sudden exit. For retail investors, CFO changes at major industrial companies warrant attention because the finance chief oversees capital allocation, investor relations, and financial reporting. The extended transition and Epley's deep internal experience should provide continuity.
His compensation package—roughly in total target value—is in line with CFO pay at peer industrials. Watch Caterpillar's Q2 2026 earnings call (likely in late July) for Epley's first public appearance as CFO and any commentary on capital deployment priorities or financial strategy shifts under new leadership.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
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On April 8, 2026, Caterpillar Inc. (the “Company”) announced that, on April 7, 2026, the Board of Directors (the “Board”) of the Company appointed Kyle Epley as the Company’s Chief Financial Officer, effective May 1, 2026, succeeding Andrew R.J. Bonfield.
Kyle Epley, currently a senior vice president responsible for the Global Finance Services Division since 2019, was appointed as the new Chief Financial Officer effective May 1, 2026. He has been with Caterpillar since 1996 and has held various financial leadership roles including corporate controller and division CFO positions.
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Mr. Bonfield will continue to serve as Chief Financial Officer until May 1, 2026, at which point he will remain an employee through his retirement from the Company on October 1, 2026.
Andrew R.J. Bonfield will step down as CFO on May 1, 2026, and remain with the company in a transition capacity until his retirement on October 1, 2026. This represents a planned succession with a five-month transition period.
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An increase in Mr. Epley’s annual salary to $930,500, effective May 1, 2026; ·An increase in Mr. Epley’s target award under the Company’s Annual Incentive Plan was set at 115% of his base salary; and ·A long-term incentive grant with a grant date fair value of $1.8 million, one-half of which was comprised of performance-based restricted stock units, one-quarter of which was comprised of non-qualified stock options and one-quarter of which was comprised of time-based restricted stock units.
The new CFO's compensation package includes an annual salary of $930,500, an annual incentive target of 115% of base salary, and a $1.8 million long-term incentive grant split equally between performance-based RSUs (50%), stock options (25%), and time-based RSUs (25%).
Event · Item 9.01 — Financial Statements and Exhibits
Caterpillar filed an 8-K attaching a press release dated April 8, 2026; no material business event disclosed in the filing body.
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99.1 | Caterpillar | Inc. press release dated April 8, 2026
Caterpillar attached a press release dated April 8, 2026 as Exhibit 99.1. The 8-K body does not describe the content of the press release, so the nature of the disclosure cannot be determined from this filing alone.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 18, 2026 · How we verify