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Cummins Inc. announced Jennifer Rumsey will become CEO and president effective Aug. 1. Rumsey will become the first woman to hold the post at the world’s largest independent engine maker and only the seventh CEO in the company’s 103-year history.
Most recently, she was the company’s chief operating officer and president. (Read more about Jennifer Rumsey’s vision for Cummins in her Newsmaker interview with Associate Editor Dan Ronan.)
She succeeds Tom Linebarger, who will end his term as CEO at that time, but continue as chairman and as executive chairman. He will work directly with Rumsey, a 20-year veteran of the Columbus, Ind.-based business, on specific initiatives “that position the company for continued success, including completing the pending acquisition of Meritor,” according to a release.
“[Rumsey] led our global operations as chief operating officer during one of the most challenging periods in our history, delivering record revenues and dramatically improving product quality and our market position while addressing unprecedented supply chain constraints,” Linebarger said. “Jen is a principled leader who cares deeply about our stakeholders. We share a common vision for Cummins, and I am confident that Jen will lead Cummins into an even more prosperous future.”
Luke Junk, an investment analyst with R.W. Baird & Co., noted there are risks with any management transition, but “we consider her past leadership of CMI’s components segment and time as chief technical officer both to be key positives.”
Linebarger became chairman and CEO of Cummins on Jan. 1, 2012. Prior to that, he served as president and chief operating officer from 2008 to 2011.
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