Chief Executive Group and its CFO Leadership Council, in partnership with AlixPartners, today announced that Andrew Bonfield, chief financial officer, Caterpillar, has been named 2025 CFO of the Year by his peer CFOs.
Bonfield was selected by an independent committee comprised of leading CFOs for his work transforming the world’s top manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Under Bonfield’s leadership, Caterpillar embedded a robust decision process and standards, using more granular information to make better decisions grounded in what it takes to win in its markets. That effort has led to allocation and targeted reinvestment of resources to the strategies with the best potential for profitable growth and ultimately better execution, delivering consistently high returns for shareholders.
His efforts are driving results that have far outpaced the industry, with Caterpillar achieving five consecutive years of the top quartile total shareholder returns vs. its peers (less than 2 percent of companies in the S&P 500 achieve this) and in 2024 achieving record adjusted profit per share.
“It’s an honor to receive this recognition, which is a testament to the exceptional team of finance professionals at Caterpillar who continue to deliver solid results in a dynamic environment,” says Bonfield. “Our team’s relentless drive to deliver solutions for our customers is inspiring, and as we continue to celebrate our company’s centennial anniversary this year, I remain confident that our potential to shape a better, more sustainable future has never been stronger.”
The 2025 CFO of the Year Selection Committee includes: Jeff Epstein, leader, Bessemer Venture Partners CFO Council; Dave Marberger, CFO, Conagra Foods; Gary Millerchip, EVP and CFO, Costco; Leeny Oberg, EVP and CFO, Marriott International; Peter Osvaldik, EVP and CFO, T-Mobile; Aradhana Sarin, executive director and CFO, AstraZeneca. Oberg, Osvaldik and Sarin are prior CFO Leadership award honorees.
“Andrew’s institutionalization of Caterpillar’s operating and execution model has focused the entire company on a clear definition of winning and put in place the capabilities to achieve and sustain top performance,” says Joe Shalleck, partner & managing director, AlixPartners, who acts as a special advisor to the judges throughout the CFO of the Year process.
“At an incredibly challenging time in global business history, Andrew is a great example of how disciplined, forward-thinking CFO leadership is one of the most essential elements for the success of any organization,” says Jack McCullough, president and founder, CFO Leadership Council. “He really does represent the best of this profession.”
Bonfield’s selection as 2025 CFO of the Year will be celebrated at a gala hosted by Chief Executive Group on December 8 at the Harvard Club, New York City. Learn more and request an invitation: cfoleadership.com/awards/
