- Push-out Score determined
- After almost 11 years in the position
- Praise and thanks for Linebarger
- Jen Rumsey taking over
- Linebarger will remain as Executive Chairman at Cummins
- Linebarger spoke at length and said 178 words
(exechange) — Columbus, Indiana, July 14, 2022 — Tom Linebarger, chief executive of Cummins, leaves his position. As announced by Cummins Inc. in a news release and in a regulatory filing published on Thursday, July 14, 2022, N.Thomas (Tom) Linebarger leaves his post as chief executive officer at the world’s largest maker of diesel engines, after almost 11 years in the role, effective August 1, 2022.
Tom Linebarger’s duties as CEO will be taken over by Jennifer (Jen) Rumsey, currently President and Chief Operating Officer at Cummins Inc.
“We must emphasize the critical role people play in our collective success”
Cummins did not give an explicit reason for Tom Linebarger’s departure from the CEO post. Rumsey said: “At a time when technology is evolving more rapidly than at any point in our history, we must emphasize the critical role people play in our collective success.”
Linebarger will remain as Executive Chairman at Cummins
“Linebarger will continue to serve as Chairman of the Board of Directors and in an Executive Chairman role, working directly with Rumsey on specific initiatives that position the company for continued success, including completing the pending acquisition of Meritor,” Cummins said.
“Will end his term”
Cummins said: “[E]ffective August 1, 2022, Tom Linebarger will end his term as Chief Executive Officer (CEO) and Jennifer Rumsey, President and Chief Operating Officer (COO), will assume the role of President and CEO.”
Share price increase since July 2017
The announcement follows an increase in Cummins Inc.’s share price of 22% since July 2017.
In the position of CEO since 2012
Tom Linebarger became CEO of the Company in 2012.
Linebarger became the Chairman of the Board and Chief Executive Officer of the Company on January 1, 2012.
Linebarger was the Company’s President and Chief Operating Officer from 2008-2011 after serving as Executive Vice President and President, Power Generation Business from 2003 to 2008 and as Vice President, Chief Financial Officer from 2000 to 2003.
From 1998 to 2000, he was the Company’s Vice President, Supply Chain Management, after holding various other positions with the Company.
Linebarger received a B.S. from Stanford University and a B.A. from Claremont McKenna College in 1986 and M.S. and M.B.A. degrees from Stanford in 1993.
He has been a director of Harley-Davidson, Inc. since 2008.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tom Linebarger’s move on a scale of 0 to 10.
exechange reached out to Cummins and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 29.2022 ($).