Caterpillar names Derrick York group president of Resource Industries as Denise Johnson plans Feb. 1, 2027 retirement

Leadership transition at Resource Industries

Caterpillar Inc. (NYSE: CAT) said on Oct. 15, 2026, that Derrick York, currently president of Solar Turbines and a Caterpillar senior vice president, has been appointed group president of Resource Industries effective Nov. 1, 2026. Denise Johnson, the current group president of Resource Industries, has elected to retire effective Feb. 1, 2027, and will assume an advisory role starting Nov. 1, 2026, to support a "seamless leadership transition," according to the company's announcement distributed via PRNewswire from Irving, Texas.

Chairman and CEO Joe Creed framed the change as a planned succession centered on continuity for the mining segment.

Johnson's tenure and York's background

Johnson joined Caterpillar in 2011 and assumed leadership of Resource Industries in 2016 "during a historic mining downturn," the company said. According to the announcement, her leadership "returned the segment to profitability and ultimately delivering its strongest financial performance in more than a decade," with Caterpillar crediting her for advancing mining autonomy and related technologies.

York has led the global Solar Turbines business unit since 2023, which supplies industrial gas turbines and compressors for oil & gas and power generation applications. Over 16 years at Caterpillar, he has also served as senior vice president of the Oil & Gas and Marine division and held earlier roles in finance and corporate development. His pre-Caterpillar experience includes banking and public accounting. He holds a bachelor's degree in finance from the University of Illinois at Urbana-Champaign and an MBA from Northwestern University's Kellogg School of Management.

Executive commentary

Creed's written statements accompanied the announcement. "Denise took on a critical role during one of the mining industry's most challenging times," he said. "Her disciplined leadership restored Resource Industries to profitability and positioned Caterpillar as an industry leader in mining autonomy and technology." On York, Creed said he is "well positioned to lead the team into its next chapter of innovation, growth and customer success."

Johnson also commented on the succession, saying "the greatest accomplishment of any leader is leaving an organization better positioned for the future." She called York "the right leader to build on that foundation and move Resource Industries forward."

Other developments

Separately on Oct. 15, 2026, Caterpillar shares fell 4.8% in morning trading as multiple analysts reduced their price targets ahead of the company's scheduled third-quarter earnings release, according to streetinsider.com, which also referenced the same leadership transition. The next verifiable milestone is Caterpillar's third-quarter earnings release, scheduled for Oct. 29, 2026.