Hundreds of Caterpillar employees and executives meet Tuesday at the CAT Visitors Center in Peoria to celebrate the company’s 100th anniversary. (Photos by Tim Alexander/For Chronicle Media)

PEORIA — The excitement associated with Tuesday’s  celebration of Caterpillar Inc.’s 100th year of operations had yet to ebb when the world’s largest earthmoving machinery manufacturer, once headquartered in Peoria, announced a key leadership change.  

The company announced that after eight years as CEO and nearly 45 years of service, Caterpillar Chairman and CEO D. James Umpleby III would step down to become executive chairman of the Caterpillar Board, effective May 1. Chief Operating Officer Joseph E. Creed, a 28-year Caterpillar veteran, will succeed Umpleby as CEO and join the Board of Directors, according to a CAT news release.  

Inside the Caterpillar Visitor’s Center that morning, a centennial-themed birthday party, complete with snacks, refreshments and music from the Caterpillar Big Band, was held for employees and invited guests. The party served to both celebrate the company’s century-long history and spark optimism for its future. Included was a ribbon-cutting ceremony introducing a construction technology exhibit, along with an announcement of the company’s pledge of $100 million to help equip its future workforce with the technical skills needed to meet the industry’s rapid digital transformation.  

“This milestone today is an opportunity to celebrate the legacy and the achievements of our first hundred years, while looking forward to the future. Our root purpose is to help our customers build a better, more sustainable world,” said Henry Vicary, CAT’s director of guest and community relations, who emceed the event. “You have to wonder if our original founders, Benjamin Holt and C.L. Best, could’ve dreamt of this day.”  

It was on April 15, 1925, when the Holt Manufacturing Co. and C.L. Best Tractor Co. inked a contract to merge their businesses and form the Caterpillar Tractor Co. In 1927, the fledgling company rolled out its first designed product — the Model 20 tractor. A Model 20 was included in the Caterpillar Visitors Center’s Antique Tractor Walk, a self-guided close-up view of some of the company’s earliest machinery that was spread across the Visitors Center campus.  

Dwarfed by a massive mining truck, Henry Vicary, CAT public relations officer, speaks during the company’s centennial celebration.

While the past was well-represented at the celebration, the event was mostly focused on the future of the company. According to CAT’s construction and digital-technical products director Todd Farmer, the skill sets needed for success in the global labor market are expected to evolve drastically in the next five years. Technology-driven labor skills required will include those for artificial intelligence, automation, data analytics, digital twins, Internet of Things, machine language, augmented reality, computer-aid design and modeling, and robotics maintenance. 

“Mossville and the Peoria area continues to be our global hub for technology and innovation, so we are constantly developing our (cloud-based software application) tools like Vision Link and our connected assets, all the way to fully autonomous machines that are running all over the globe today,” said Farmer, who is employed at the Mossville CAT Technical Center. “We also have remote-control technology that removes the operator from the machine so they can run the machine anywhere in the world.” 

The CAT Mossville plant is responsible for developing rough ideas for products and software into production solutions for customers, according to Farmer, along with support technology for dealers and customers. Much of the global testing for new tech products is conducted at the Edwards, Illinois proving grounds. Seeking safer, more reliable solutions for autonomous machinery is an important aspect of the testing currently being done in Edwards, he said.  

“We’re going to continue to expand upon our success with autonomous trucks and hauling systems,” Farmer said, adding that AI will also be a future area of expansion. “We’ll use (AI) to solve a customer problem and make it easier for our customers to interact with us.  

“We don’t develop technology for technology’s sake. We want to solve a customer’s problem, and we’ll match up the technology that’s best suited to solve that customer’s problem as orderly as possible.” 

Chih Liang, CAT vice president of technology and marketing, is joined by senior marketing consultant Jordan Borders in cutting the ribbon on a construction technology exhibit at the Caterpillar Visitors Center.

Farmer helped introduce CAT executives, including Chih Liang, vice president of technology and marketing, and Jordan Borders, senior marketing consultant, who cut the ribbon on the center’s new construction tech exhibit. The exhibit complements a larger one introduced in January that traces CAT’s 100-year history. It features interactive displays that allow visitors to operate miniature equipment and build their own playgrounds. A “smart job site” simulator allows operators to interact digitally with machinery.  

The morning’s celebration kicked off with a big screen simulcast of CAT officials ringing the opening bell of the New York Stock Exchange live on television. Later, word spread among the media who were present that Umpleby would step down. The news was confirmed by the issuance of a company news release and statement from Umpleby. 

“I’m grateful to have had the opportunity to work with Caterpillar’s dedicated global team of employees and dealers for my entire career. As we celebrate our 100th anniversary, we honor those who came before us establishing a culture of excellence serving our customers,” said Umpleby. “I have great confidence in my successor Joe Creed and the entire Executive Office to lead our global team as Caterpillar embarks upon our second century of helping our customers build a better, more sustainable world.”