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Posted 10 October, 2023

CUMMINS INC appointed new CEO

CEO Change detected for ticker NYSE:CMI in a 8-K filed on 10 October, 2023.


  On October 9, 2023, Cummins Inc. (the "Company") elected Daniel W. Fisher, Chairman and Chief Executive Officer of Ball Corporation as a director of the Company to serve until the Company's next annual meeting of shareholders.  

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Overview of CUMMINS INC
Automotive • Motor Vehicle Parts
Cummins, Inc. engages in the design, manufacture, and distribution of diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies, and fuel cell products. It operates through the following segments: Engine, Distribution, Components, Power Systems, and Accelera. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets. The Distribution segment includes power generation systems, high-horsepower engines, heavy-duty and medium-duty engines designed for on- and off-highway use, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair service. The Components segment supplies products including axles, drivelines, brakes and suspension systems for commercial diesel and natural gas applications, aftertreatment systems, turbochargers, fuel systems, valvetrain technologies, filtration products, automated transmissions, and electronics. The Power Systems segment engages in power generation, industrial, and generator technologies. The Accelera segment designs, manufactures, sells, and supports hydrogen production technologies, as well as electrified power systems, including battery, fuel cell, and electric powertrain technologies. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.
Market Cap
$38.3B
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Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On October 9, 2023, Cummins Inc. (the "Company") elected Daniel W. Fisher, Chairman and Chief Executive Officer of Ball Corporation as a director of the Company to serve until the Company's next annual meeting of shareholders. Mr. Fisher has been appointed to serve on the Board of Directors' Finance Committee, Governance and Nominating Committee and Science, Environment and Technology Committee. 


Mr. Fisher will participate in the Company's standard non-employee director compensation policies and programs as described under "Director Compensation" in the Company's 2023 Proxy Statement filed with the U.S. Securities and Exchange Commission on March 27, 2023. 


The Company's press release with respect to this matter is attached as Exhibit 99 and incorporated herein by reference.