Cummins Business Summary

Cummins Inc. (CMI) is a global power leader that generates revenue through the design, manufacture, and distribution of a diverse portfolio of diesel, natural gas, electric, and hybrid powertrains, alongside power generation systems and specialized components. The company operates through five primary business segments: Engine, which produces high-performance power units for on-highway and off-highway use; Components, focusing on filtration, turbocharging, and electronics; Distribution, the largest segment by revenue providing global sales and service; Power Systems, which serves industrial and data center backup markets; and Accelera, the firm’s dedicated zero-emissions technology arm. Cummins maintains a dominant market position in the heavy-duty engine sector, competing directly with industry giants such as Caterpillar, PACCAR, AB Volvo, and Komatsu by leveraging its extensive service network and its "Destination Zero" strategy to lead the transition toward decarbonized energy solutions. Founded in 1919 by Clessie Cummins and William G. Irwin, the company is currently led by Chair and CEO Jennifer Rumsey, a mechanical engineer and former CTO who is the first woman to lead the organization. The executive leadership team includes Chief Financial Officer Mark Smith and Chief Technical Officer Jonathan Wood, who succeeded Jim Fier in 2023 after leading the company’s New Power Engineering division. Other key leaders include Bonnie Fetch, Executive Vice President and President of Operations, and Amy Davis, President of Accelera and Components. The company’s Board of Directors features notable industry veterans, including Matthew Tsien, the former CTO of General Motors, and Carla Harris, a prominent senior executive from Morgan Stanley, providing a blend of deep technical pedigree and strategic financial oversight.