Cummins CEO announces retirement - Trade Only Today

Cummins CEO announces retirement

Author:
Updated:
Original:

Cummins Inc. announced the retirement of Tim Solso, 64, the company's chairman and chief executive since 2000.

Solso will be succeeded by Tom Linebarger, Cummins’ president and chief operating officer. Linebarger, 48, has been with Cummins for 17 years and he formerly was president of Cummins Power Generation and served as the company’s chief financial officer.

He will assume his new role on Jan. 1, 2012.

“The time has come to say thank you and best wishes to an extraordinary business leader and a wonderful human being,” Alexis Herman, lead director of Cummins’ board and chairwoman of the Governance and Nominating Committee, said in a statement. “Tim has led the company through many years of record performance and outstanding shareholder returns. He championed Cummins’ international growth and the importance of a diverse work force. Equally impressive has been his unwavering focus on corporate responsibility and making a difference in the communities where Cummins does business.

“In Tom Linebarger we have an individual who shares the same qualities of leadership and commitment to Cummins’ values as his predecessors,” she added. “He has extensive experience in the operational and financial aspects of the company. And he brings with him limitless energy and enthusiasm for the rigors of competing in a challenging global business environment.”

Solso joined Cummins in 1971 after receiving a master’s degree in business administration from Harvard University and a bachelor’s degree in psychology from DePauw University. He began as assistant to the vice president of personnel and later moved into the operations side of the business.

He has worked in various global locations, including Huddersfield, England, and Sao Paolo, Brazil. After 29 years in the business, he was named chairman and CEO in 2000.

Related

Yanmar Brings Diesel Power to Wake Boat Segment

Engine manufacturer offers first fully integrated diesel option in partnership with Nautique.

GOST Unveils Updates Ahead of FLIBS

Marine security leader teases updated interface and more powerful satellite tracking antennas.

Virtual Edition of Metstrade Boat Builder Awards Announced for 2020

The awards will acknowledge challenges and resolve of the marine industry during the pandemic.

Mercury Marine and Beneteau Partnership Goes Global

Beneteau buyers around the world will now have Mercury for a power option.

Quick Hits: October 23, 2020

Brunswick pontoon facility earns award; Kemah Capital enters marine.

Brunswick Corp. Appoints New President

Aine Denari is an automotive industry veteran with vast experience in leading-edge mobility systems.

Menhaden Quotas Reduced

Sportfishing groups applauded the move, saying it will help rebuild the striped bass population.

Winnebago Reports Q4, Fiscal 2020 Results

Revenue grew 18.6 percent for the year to $2.4 billion.

Quick Hits: October 22, 2020

Tiara Yachts honors top dealers; Smoker Craft donates to MRAA; ICOMIA issues state of the industry.