Cummins Distribution Business President Tracy Embree to Depart the Company
29 Agosto 2023 - 12:00PM
Business Wire
Tony Satterthwaite to Serve as Interim
Leader of the Distribution Business
Today, Cummins Inc. (NYSE: CMI) announced that Tracy Embree,
Cummins Vice President and President of the Distribution Business,
is leaving Cummins on September 8 to pursue an external
opportunity. Tracy served in a variety of leadership roles during
her distinguished 23-year career at Cummins.
“Tracy has had a tremendous impact on people and our business
during her career at Cummins,” said Jennifer Rumsey, Cummins Inc.
Chair and CEO. “She is a role model for our leadership culture and
how you invest in people and teams to enable both to grow and
develop. She has coached and mentored numerous employees and been a
leader in our leadership development programs. The results of that
investment in people and her focus on delivering results have made
her an effective business leader. She has grown the businesses she
has been a part of and delivered outstanding results. I wish my
friend and colleague all the best in both her professional and
personal endeavors.”
Embree has led the Cummins Distribution Business since 2019.
Over that time, the business delivered record sales and EBITDA;
recentered its strategy around delivering a differentiated customer
experience; improved employee and leadership development; and
executed its technology roadmap to support the business
strategy.
From 2014 to 2019, Embree led the Components Business during a
particularly significant time for the growth of that segment. Under
her leadership, the business achieved record sales and
profitability and expanded its product line to include
transmissions. Embree also helped to increase market share around
the world in core business areas and develop key technologies to
ensure Cummins engines and its customers would meet the
increasingly challenging global emissions standards.
Embree held other key leadership roles during her career
including president of the Turbo Technologies Business, executive
director of the Global Midrange On-Highway Engine Business, and
executive director of Cummins’ Chrysler Business.
Upon Embree’s departure, Cummins Senior Vice President Tony
Satterthwaite will serve as interim leader of the Distribution
Business, which he previously led from 2015-2019. Satterthwaite has
been with Cummins since 1988 and over the course of his 35-year
Cummins career, he has served in a variety of leadership roles
including President and Chief Operating Officer, President of the
Distribution Business, Power Generation Business and a number of
other global leadership roles.
“I am delighted Tony will serve as interim leader of the
Distribution Business,” said Rumsey. “He successfully and
effectively led the Distribution Business before and has the
experience to ensure the business continues to deliver strong
results. Tony will continue to serve in his broader role as Senior
Vice President and be a key leader and partner to me in evolving
Cummins for the future. I am grateful for Tony’s continued
leadership – he understands our customers, is a great leader of
people and has delivered excellent results in every role he’s
served over the course of his career.”
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of
complementary business segments that design, manufacture,
distribute and service a broad portfolio of power solutions. The
company’s products range from diesel, natural gas, electric and
hybrid powertrains and powertrain-related components including
filtration, aftertreatment, turbochargers, fuel systems, controls
systems, air handling systems, automated transmissions, axles,
drivelines, brakes, suspension systems, electric power generation
systems, batteries, electrified power systems, electric
powertrains, hydrogen production and fuel cell products.
Headquartered in Columbus, Indiana (U.S.), since its founding in
1919, Cummins employs approximately 73,600 people committed to
powering a more prosperous world through three global corporate
responsibility priorities critical to healthy communities:
education, environment and equality of opportunity. Cummins serves
its customers online, through a network of company-owned and
independent distributor locations, and through thousands of dealer
locations worldwide and earned about $2.2 billion on sales of $28.1
billion in 2022. See how Cummins is powering a world that's always
on by accessing news releases and more information at
https://www.cummins.com/always-on.
Forward-looking disclosure statement
Information provided in this release that is not purely
historical are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding our forecasts, guidance, preliminary results,
expectations, hopes, beliefs and intentions on strategies regarding
the future. These forward-looking statements include, without
limitation, statements relating to our plans and expectations for
our revenues and EBITDA. Our actual future results could differ
materially from those projected in such forward-looking statements
because of a number of factors, including, but not limited to: any
adverse results of our internal review into our emissions
certification process and compliance with emission standards;
increased scrutiny from regulatory agencies, as well as
unpredictability in the adoption, implementation and enforcement of
emission standards around the world; changes in international,
national and regional trade laws, regulations and policies; changes
in taxation; global legal and ethical compliance costs and risks;
evolving environmental and climate change legislation and
regulatory initiatives; future bans or limitations on the use of
diesel-powered products; failure to successfully integrate and / or
failure to fully realize all of the anticipated benefits of the
acquisition of Meritor, Inc.; raw material, transportation and
labor price fluctuations and supply shortages; any adverse effects
of the conflict between Russia and Ukraine and the global response
(including government bans or restrictions on doing business in
Russia); aligning our capacity and production with our demand; the
actions of, and income from, joint ventures and other investees
that we do not directly control; large truck manufacturers' and
original equipment manufacturers' customers discontinuing
outsourcing their engine supply needs or experiencing financial
distress, or change in control; product recalls; variability in
material and commodity costs; the development of new technologies
that reduce demand for our current products and services; lower
than expected acceptance of new or existing products or services;
product liability claims; our sales mix of products; failure to
complete, adverse results from or failure to realize the expected
benefits of the separation of our filtration business; our plan to
reposition our portfolio of product offerings through exploration
of strategic acquisitions and divestitures and related
uncertainties of entering such transactions; increasing interest
rates; challenging markets for talent and ability to attract,
develop and retain key personnel; climate change, global warming,
more stringent climate change regulations, accords, mitigation
efforts, greenhouse gas (GHG) regulations or other legislation
designed to address climate change; exposure to potential security
breaches or other disruptions to our information technology
environment and data security; political, economic and other risks
from operations in numerous countries including political, economic
and social uncertainty and the evolving globalization of our
business; competitor activity; increasing competition, including
increased global competition among our customers in emerging
markets; failure to meet environmental, social and governance (ESG)
expectations or standards, or achieve our ESG goals; labor
relations or work stoppages; foreign currency exchange rate
changes; the performance of our pension plan assets and volatility
of discount rates; the price and availability of energy; continued
availability of financing, financial instruments and financial
resources in the amounts, at the times and on the terms required to
support our future business; and other risks detailed from time to
time in our SEC filings, including particularly in the Risk Factors
section of our 2022 Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating
the forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are made only as of the date of this press
release and we undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More detailed information about factors
that may affect our performance may be found in our filings with
the SEC, which are available at http://www.sec.gov or at
http://www.cummins.com in the Investor Relations section of our
website.
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version on businesswire.com: https://www.businesswire.com/news/home/20230829042692/en/
Jon Mills Director, External Communications 317-658-4540
Jon.mills@cummins.com
Cummins (NYSE:CMI)
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