Jennifer Rumsey is the President and CEO of Cummins Inc., a major player in the engines and power systems industry. With a solid educational foundation, she holds a Bachelor's and a Master's degree in Mechanical Engineering from Purdue University and...

Number of Employees

75.5K

Year

2023

Total Compensation

$6.90M

Salary

$1.50M

Board Justification

The compensation philosophy emphasizes pay-for-performance, aligning executive compensation with company performance and shareholder interests, targeting median market compensation levels.

Bonus

$2.23M

Board Justification

The annual bonus for 2023 was calculated based on a performance factor of 170% due to the company's financial performance, but was reduced by 50% in light of regulatory issues.

Other

$583.16K

Board Justification

Other compensation includes various benefits and perks as detailed in the proxy statement.

Restricted Stock

$2.58M(10.79K Performance shares)

Board Justification

Performance shares earned for the 2021-2023 cycle, valued at $2,583,762 based on a stock price of $239.57 on December 29, 2023.

Performance Metrics

The performance metrics for 2023 included EBITDA and Operating Cash Flow, with a payout factor of 170% based on actual performance.

SEC Filing

From April 1, 2024

Jennifer Rumsey

CEO of Cummins

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Education

Bachelor's degree in Mechanical Engineering from Purdue University; M.S. in Mechanical Engineering from the University of Michigan

Field of Expertise

Technology & Engineering - Engineering

Born

January 1, 1976 - 49 years ago

Is Founder?

No

Current Tenure

2 years 5 months (Aug 2022 - Present)

Previous Experience

Vice President and President - Components Group