Theodore M. Solso, born on August 20, 1948, has a strong background in business and management, earning his Bachelor's degree from Indiana University. He served as CEO of Cummins Inc. from 2000 to 2011, leading the company through a transformative...

Theodore M. Solso, born on August 20, 1948, has a strong background in business and management, earning his Bachelor's degree from Indiana University. He served as CEO of Cummins Inc. from 2000 to 2011, leading the company through a transformative period. Known for his hands-on management style, Solso emphasized performance metrics and aligned executive pay with the company’s goals. His tenure saw him involved closely in the company's operations, including a focus on innovative, sustainable practices in engine technology. Under his leadership, Cummins made significant strides in revenue, increasing its presence globally. Interestingly, during his time, Solso’s total annual compensation varied widely, highlighting the performance-based structure of executive pay at Cummins. He was also involved in a number of community and corporate boards, demonstrating his commitment to both business growth and social responsibility. After his retirement, Solso left a legacy of strategic vision and operational diligence that continues to influence Cummins today.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Cummins CEOs

C

Theodore M. Solso

Ex-CEO of Cummins

Education

Bachelor's degree in Business and Management from Indiana University

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

August 20, 1948 - 76 years ago

CEO of Cummins for

11 years 11 months (Jan 2000 - Dec 2011)

Previous Experience

President of Cummins Inc.

Rivals

Competitors/colleagues of Theodore M. Solso

G

Mary T. Barra

CEO of General Motors

2023 Compensation

Stock

$18.22M

Salary

$2.10M

Bonus

$4.20M

Other

$567.98K

Total Holdings

$56.23M

P

R. Preston Feight

CEO of Paccar

2023 Compensation

Stock

$0.00

Salary

$1.54M

Bonus

$3.49M

Other

$21.36K

Total Holdings

$40.12M

T

Elon Musk

Founder and CEO of Tesla, Inc.

2023 Compensation

Stock

$1.86M

Salary

$0.00

Bonus

$0.00

Other

$0.00

Total Holdings

$92.56B

A

David S. Graziosi

CEO of Allison Transmission Holdings

2023 Compensation

Stock

$0.00

Salary

$1.04M

Bonus

$0.00

Other

$107.88K

Total Holdings

$77.16K

O

John C. Pfeifer

CEO of Oshkosh

2023 Compensation

Stock

$3.37M

Salary

$1.09M

Bonus

$0.00

Other

$123.82K

Total Holdings

$7.96M

I

Nicholas Fanandakis

CEO of ITT

2023 Compensation

Stock

$0.00

Salary

$1.09M

Bonus

$0.00

Other

$158.98K

Total Holdings

$1.45M

Holdings

See how much did Theodore M. Solso make over time.

During his tenure at Cummins, Theodore Solso’s holdings in the company reflected significant value fluctuations. At one point, his vested shares reached a high of 30,800 with a value topping $1.3 million, showcasing his strong financial stake in the company’s...

During his tenure at Cummins, Theodore Solso’s holdings in the company reflected significant value fluctuations. At one point, his vested shares reached a high of 30,800 with a value topping $1.3 million, showcasing his strong financial stake in the company’s success. This aligns with Cummins' practice of tying executive compensation to performance, which meant that his wealth was closely connected to how well the company did in the market. Over the years, data shows that the value of Solso's shares fluctuated significantly, demonstrating the dynamic nature of the company's stock performance. After stepping down in 2011, his holdings indicated a solid performance throughout his leadership, as he was able to build substantial wealth through his vested stock options and performance shares, which were tied to Cummins' success during his tenure.

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Total Stock Sold

$6.28M

CMI

$6.01M

50,000 CMI shares

ASH

$268.23K

9,975 ASH shares

What if they kept their stock?

If Theodore M. Solso didn't sell their stock, today they would have:
Extra CMI50,000 shares worth $7.11M and ASH9,975 shares worth $501.64K.
This is 21.19% and $1.33M more than what they got when they sold the stock.

Charitable Transactions

CMI

97,348 shares

CMI

Recent Charitable Transactions

CMI

97,348 shares

CMI

Apr 29, 2011

Charity

Insider Trading

See recent insider trades of Theodore M. Solso.

ASH

$545.63K

ASH at $54.70/share

Dec 15, 2011

Sale

CMI

12,765 shares

CMI

Apr 29, 2011

Charity

CMI

97,348 shares

CMI

Apr 29, 2011

Charity

CMI

$6.00M

CMI at $120.00/share

Apr 29, 2011

Sale

CMI

40,236 shares

CMI

Mar 2, 2011

Received

Compensation History

See how much did Theodore M. Solso make over time.

The compensation structure for Theodore Solso during his leadership at Cummins Inc. varied significantly year by year. In 2009, he received a total compensation of $1.85 million, which included a salary of $900,000 and a hefty bonus of $300,000. The performance-based aspect of his income indicated that bonuses and stock options were heavily reliant on the company's performance metrics like revenue and operating income. By 2011, his compensation package was around $4 million, highlighting the increase in the value of Cummins during his leadership. His total pay reflected a philosophy that rewards executives for achieving specific company goals, really tying their financial success to that of the company. This approach is seen as a strong strategy for aligning interests between the executives and shareholders.

Year

2011

Total Compensation

$12.00

Salary

$1.00

Board Justification

The compensation philosophy aligns with company performance and includes benchmarking against peers to ensure competitive pay and retention of key executives.

Bonus

$2.00

Board Justification

The bonus is based on the company's performance metrics and is paid out annually based on the achievement of specific financial targets.

Other

$5.00

Board Justification

Other compensation includes retirement contributions and other benefits provided to the CEO.

Restricted Stock

$4.00(3 RSU)

Board Justification

The vested stock consists of performance-based restricted stock units that were earned based on the company's performance in 2011.

Performance Metrics

The performance metrics for determining the CEO's compensation included revenue growth, operating income, and return on equity.

Other Cummins CEOs

Here are other CEOs of Cummins

N. Thomas Linebarger

Ex-CEO of Cummins

January 2012 - July 2023