Tim Solso, chairman and CEO of global engine maker Cummins Inc., plans to retire at year’s end.
Tom Linebarger, the company’s current president & COO, will replace Solso, effective Jan. 1, 2012.
Solso’s career spans 40 years at Cummins, from when he started in 1971 as an assistant to the vp of personnel to when he became chairman in 2000. Over the last decade, Cummins’ revenue has climbed from $6.6 billion to $13.2 billion – with 2010 marking Cummins’ best year ever with a record profit of more than $1 billion, the company noted.
“I am proud to have been part of the leadership team 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,” said Solso.
Linebarger has been with Cummins for 17 years, serving as president of the Cummins Power Generation division and CFO before taking on his current roles as president and COO in 2008.