The board of directors of Cummins announced the retirement of Tim Solso, 64, the company’s chairman and chief executive officer since 2000. Solso will be succeeded by Tom Linebarger, Cummins president and chief operating officer.
Linebarger, 48, has been with Cummins 17 years, and was formerly president of Cummins Power Generation and served as the chief financial officer. He will assume his new role on January 1, 2012.
In announcing his retirement, Solso said: “I am proud to have been part of the leadership team of this great company as we grew sales, established technology leadership, expanded our global reach and restructured our businesses even as we dealt with the impact of two major recessions. Cummins’ future is very promising and no one is better qualified to lead the company during the exciting times ahead than Tom Linebarger. He has the energy, experience and business know-how Cummins needs to compete in our markets around the world.”