Cummins Elects John H. Stone to its Board of Directors
12 Fevereiro 2024 - 5:00PM
Business Wire
Today, Cummins Inc. (NYSE: CMI) announced the election of John
H. Stone to its Board of Directors.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240212112332/en/
John H. Stone (Photo: Business Wire)
“I am delighted to welcome John to our Board of Directors,” said
Jennifer Rumsey, Chair and CEO, Cummins Inc. “John joins our board
with deep expertise in our industry and leading strategic,
technology-led growth and expansion initiatives, which will be an
asset to us as we continue to execute our growth strategy and lead
our industry through the energy transition.”
Stone is currently the President and Chief Executive Officer of
Allegion – a global company that specializes in security and access
around doors and adjacent areas. He is responsible for the
strategic direction of Allegion and its global businesses,
including delivering superior shareholder value, investing and
executing on core growth initiatives, and advancing the company’s
vision of seamless access and a safer world.
Prior to working at Allegion, Stone had a 20-year career at
Deere & Company, where he rose to the role of President of the
Worldwide Construction, Forestry and Power Systems business. He
also held other leadership positions at Deere & Company,
including Head of the Intelligent Solutions Group; Vice President,
Corporate Strategy & Business Development; Global Director,
Utility Tractor Product Line; and General Manager, John Deere
Ningbo (China) Works. Other highlights from Stone’s diverse career
include roles in Six Sigma and Quality at General Electric and
service as an infantry officer in the United States (U.S.)
Army.
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, EBITDA and agreement in principle to settle
regulatory proceedings regarding our emissions certification and
compliance process for pick-up truck applications. 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 consequences resulting
from entering into the Agreement in Principle, including required
additional mitigation projects, adverse reputational impacts and
potential resulting legal actions; 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; uncertainties and risks related to timing and
potential value to both Atmus Filtration Technologies Inc. (Atmus)
and Cummins of the planned final separation of Atmus, including
business, industry and market risks, as well as the risks involving
the anticipated favorable tax treatment if there is a significant
delay in the completion of the envisioned final separation; 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 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 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/20240212112332/en/
Jon Mills – Director, External Communications 317-658-4540
jon.mills@cummins.com
Cummins (NYSE:CMI)
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