This excerpt taken from the CMI 8-K filed Jun 2, 2008.
Tom Linebarger named
President and COO of Cummins Inc.
Columbus, IND. -- Tom Linebarger has been named President and Chief Operating Officer of Cummins Inc. (NYSE: CMI), replacing Joe Loughrey, 58, who will become Vice Chairman, effective August 1, until he retires in March 2009.
Linebarger, 45, currently serves as President of Cummins Power Generation and has been an Executive Vice President since 2005. He formerly was the Company's Chief Financial Officer.
"Tom's strong financial background, general management skills, understanding of Cummins' business operations and his commitment to the needs of Cummins' customers and other stakeholders make him an outstanding choice for President and COO," said Tim Solso, Cummins Chairman and Chief Executive Officer. "The Board of Directors and I are extremely pleased to have him assume this key leadership role."
Linebarger joined Cummins in 1994 and served in various roles, including as Managing Director of Cummins Turbo Technologies and Vice President of the Engine Business' Supply Chain Management before being named Chief Financial Officer in 2000 - a role he held for three years.
Linebarger moved to the position of President of Power Generation in 2003 and quickly helped return that business to profitability. Under his leadership, the business went from an operating loss of $19 million in 2003 to an operating profit of $334 million in 2007. Today, Power Generation is at the high end of its sales growth and profit targets and is expanding its businesses globally.
Along with Power Generation, Linebarger has led Cummins' corporate strategy and growth planning efforts.
Prior to joining Cummins, Linebarger was an investment manager for the Prudential Investment Corporation. He has master's degrees in business and manufacturing systems engineering from the Stanford Graduate School of Business. His undergraduate degrees are in mechanical engineering and economics.
Linebarger is a member of the Board or Directors of Pactiv Corp., a position he has held since 2005. He is on the Advisory Committee for Aeon (formerly Central Community Housing Trust Advisory Council) in Minneapolis and a member of the Heading Home Minnesota Business Task Force. He is also a sponsor of the Cummins Power Generation Fridley plant's community involvement partnerships with Wilder Foundation, Aeon and CommonBond in Minneapolis.
Mark Land - Director of