Jennifer Rumsey named CEO of Cummins effective Aug 1; Linebarger becomes Executive Chairman

CUMMINS INC

Tom Linebarger ends CEO term Aug 1, 2022; serves as Executive Chairman and Board Chairman.
Jennifer Rumsey, previously President & COO, becomes 7th CEO and first woman to lead Cummins (founded 1919).
Rumsey's base salary increased to $1.5M, target bonus to 175% of salary, LTI grant to $7.5M.
Linebarger's base salary reduced to $1.15M, target bonus at 150% of salary; no future LTI grants.
Rumsey co-authored Destination Zero strategy; board cites her technical expertise and leadership.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Jennifer Rumsey

President and Chief Executive Officer

CMI · CUMMINS INC

Effective: 2022-08-01
Filed: July 14, 2022, 7:59 PM ET

Jennifer Rumsey, the Company’s President and Chief Operating Officer, will succeed Mr. Linebarger as the Company’s President and Chief Executive Officer, effective August 1, 2022.

Role change

Tom Linebarger

Executive Chairman

CMI · CUMMINS INC

Effective: 2022-08-01
Successor: Jennifer Rumsey
Filed: July 14, 2022, 7:59 PM ET

Tom Linebarger, the Company’s Chairman of the Board of Directors (the “Board”) and Chief Executive Officer since 2012, will end his term as Chief Executive Officer, effective August 1, 2022. Mr. Linebarger will continue to serve as Chairman of the Board and will transition to an Executive Chairman role, also effective August 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jennifer Rumsey changed role as President and Chief Executive Officer at CUMMINS INC.

Action: succeeded as President and Chief Executive Officer
Role: President and Chief Executive Officer

Exact text from the filing

Jennifer Rumsey, the Company’s President and Chief Operating Officer, will succeed Mr. Linebarger as the Company’s President and Chief Executive Officer, effective August 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tom Linebarger changed role as Executive Chairman at CUMMINS INC.

Action: transitioned to Executive Chairman
Role: Executive Chairman

Exact text from the filing

Tom Linebarger, the Company’s Chairman of the Board of Directors (the “Board”) and Chief Executive Officer since 2012, will end his term as Chief Executive Officer, effective August 1, 2022. Mr. Linebarger will continue to serve as Chairman of the Board and will transition to an Executive Chairman role, also effective August 1, 2022.

View on SEC.gov

CUMMINS INC filing history →

Source: SEC EDGAR

accession 0000026172-22-000032

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