CHARLESTON, S.C., Feb. 20, 2014 /PRNewswire/ -- Cummins Inc. (NYSE: CMI) has named Jim Schacht General Manager for the Commercial Marine Business. Working in close cooperation with the Cummins distributor network, Schacht will be responsible for all commercial marine business activities for the Engine Business Unit (EBU) globally, including business development and support. He will be located in Columbus, Indiana and will report directly to Ed Pence, Vice President of the High Horsepower Engine Business.
"The importance of the commercial marine market to Cummins has increased significantly over the past several years," said Schacht. "We will continue to invest in our people, products and services to help our customers succeed in this increasingly demanding market segment."
Jim Schacht joined Cummins in 2010 as the Executive Director of Cummins Business Services, responsible for Cummins' corporate shared services organization that provides Accounting, Customer Care, HR and IT Services to Cummins operating entities worldwide. Over the last four years, Jim created a truly global services entity, increasing global support capabilities, improving internal service delivery and customer satisfaction measures, while lowering costs and improving operational efficiencies.
Prior to Cummins, Schacht held numerous executive-level leadership roles in the communications, information technology and hospitality industries. Schacht holds a BA in Philosophy from Trinity College (Hartford, CT USA) and an MBA from Harvard University.
Jim Schacht replaces Jenny Bush who will serve as the President for Cummins Mid-South, the exclusive distributor of Cummins products in Alabama, Arkansas, Louisiana, and Mississippi, and portions of Florida, Illinois, Missouri, and Tennessee. Across this geography, Mid-South serves a number of markets and is notable for its global leadership within the commercial marine segment. Bush will relocate to the distributor's headquarters in Memphis, Tennessee.
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins currently employs approximately 48,000 people worldwide and serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and approximately 6,500 dealer locations. Cummins earned $1.48 billion on sales of $17.3 billion in 2013.
Forward-Looking Disclosure Statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including but not limited to general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings.
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