Jennifer Rumsey named chair of Cummins Board of Directors
12 July 2023
Jennifer Rumsey, who became president and CEO of Cummins last August, will now assume the role of chair of the company’s Board of Directors, effective August 1. The Board announced it had unanimously elected Rumsey to succeed Tom Linebarger, who is retiring as executive chairman and chairman of the Board effective July 31.
Rumsey, a native of Columbus, Ind. where Cummins is headquartered, was first appointed to the company’s Board of Directors in February 2022. She has held pivotal roles within the company over the past two decades, including serving as chief technical officer, president of the Components business and chief operating officer.
A co-architect of Destination Zero, Rumsey has significantly advanced the company’s decarbonization strategy in her first year as CEO, the announcement noted, during which Cummins reported three consecutive quarterly revenue records in late 2022 and early 2023. The company continued to grow its core business with the acquisition of Meritor – the largest-ever acquisition in Cummins’ history – accelerating the development of decarbonized powertrain solutions that include a fuel-agnostic powertrain platform, enhancing the sales and service network and expanding customer relationships.
Cummins also rebranded its zero-emissions solutions business unit as Accelera by Cummins to emphasize its commitment to zero-emissions technologies. In 2022, Cummins invested $1.2 billion in research and development to drive innovation and growth across the business, while delivering strong returns to shareholders, it noted. In addition, Rumsey forged new partnerships with key customers and led an effort to reconnect employees with Cummins leaders and the Destination Zero strategy post-pandemic.
The combined roles of chair and CEO will enable Rumsey to continue leading the company into the future, leveraging her technical expertise, understanding of Cummins’ business and powering customers’ success throughout the energy transition, the announcement said.
Rumsey commented that she is deeply humbled being named chair of the Cummins Board of Directors, and extended her gratitude to Linebarger, whom she described as “an extraordinary leader for this company and an invaluable colleague and mentor” who helped to shape her journey and approach to leadership, while positioning the company for a bright future.
“As we look ahead, we will continue to create innovative solutions that effectively address our customers’ needs while making a positive impact on the communities we serve,” she stated. “When I became CEO one year ago, I said that we would continue to put people at the center of everything we do, and I am proud to say that our dedicated employees continue to work tirelessly to ensure we remain on course for our ambitious goals as a company. At the top of that list is our commitment to Destination Zero, our strategy to achieve a zero-emissions future, power our customers’ success, grow our business and deliver strong returns to our investors.”
Rumsey’s appointment as chair comes at a pivotal time for the company and the industry, according to Linebarger. “Her strategic vision for Cummins, centered on delivering solutions that meet our customers’ needs while reducing our impact on the environment will help lead our company in the transition to a decarbonized future,” he said. “On a personal note, I am filled with immense pride and gratitude for the privilege of being part of this remarkable company for the past 30 years. I am delighted to pass this role to Jennifer and firmly believe that she is the ideal leader to guide Cummins at this important time.”
Linebarger served as Cummins’ chairman and CEO from 2012 to 2022 and as executive chairman of the company for the past year. During his 10-year tenure, the company grew its revenue from $17.3 billion to a record $28.1 billion last year. Linebarger also spearheaded the formation of Accelera by Cummins and the broadening of its product portfolio through notable mergers and acquisitions, including the acquisition of Meritor.
“On behalf of the Cummins Board of Directors, I want to express our deep gratitude to Tom for his leadership of Cummins over the past three decades,” said Tom Lynch, lead director, Cummins Board. “His commitment to Cummins led to tremendous growth and returns for the company. Equally, I am thrilled to have Jennifer join as chair of the Cummins Board of Directors. She has demonstrated the leadership needed for Cummins’ continued growth and success. In her first year, she delivered record revenues and moved us forward on critical initiatives.
“Jennifer has the deep technical understanding needed to lead us successfully through the decarbonization journey and a clear ability to lead and develop people,” he continued. “We are all confident that Jennifer will help Cummins continue to flourish.”
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