June 04, 2008
Loughrey to Retire as Cummins Inc. President and CEO in March 2009; to Become Cummins Vice Chairman on Aug. 1
COLUMBUS, IN – Joe Loughrey, president and CEO for Cummins, will retire in March 2009.
Effective this Aug. 1, Loughrey will become Cummins vice chairman and remain a
member of the board of directors until his retirement, according to Business Wire. Loughrey has been president
and COO of Cummins, the world’s largest independent diesel engine manufacturer,
since May 2005.
Loughrey,
who also serves on the Company’s board of directors and on the Board of the
Cummins Foundation, joined Cummins in 1974. He was named president of the
Engine Business in 1999, a position he held until assuming his current role.
Prior to that role, he was chief technical officer and group president –
Industrial for the Engine Business from 1996 to 1999.
During
Loughrey’s career, Cummins has grown into a Fortune 250 company that serves
customers in more than 190 countries and territories through a network of 5,000
distributor and dealer locations. Cummins 38,700 employees generated more than
$13 billion in sales in 2007. More than half of those sales were made outside
the United States.
Along
with his responsibilities at Cummins, Loughrey, a graduate of the University of
Notre Dame, is recognized as a leading proponent of advanced manufacturing,
both in Indiana and nationally. He is a member and past chairman of the Manufacturing
Institute, the educational arm of the National Association of Manufacturers, as
well as chairman of Conexus Indiana, an organization dedicated to bringing
manufacturing and logistics jobs to Indiana.
He also
is a member of the board of Sauer-Danfoss, Inc. and the Columbus Community
Education Coalition. He is vice chairman of the Advisory Council for the
College of Arts & Letters at the University of Notre Dame and a Senior
Advisory Board Member of the Tauber Manufacturing Institute at the
University of Michigan.
His
honors include being named International Senior Member of AIESEC International;
the 1994 Volunteer of the Year for the Association of Retarded Citizens; a
recipient of the AIESEC Lifetime Achievement Award in 1998; the Distinguished
Alumni Honoree for the Massachusetts Boys’ State 60th Anniversary; a member of
Irish America ‘Business 100’ in 2005; a recipient of the Achievement Award for
Business by the Ireland Chamber of Commerce in the U. S., 2007; recipient of
the 2007 Dick Johnson Leadership Award by the March of Dimes; Indiana Global
Business Person of the Year, 2007; Ellis Island Medal of Honor Recipient, 2008;
and a Sagamore of the Wabash by Indiana Governor Mitch Daniels in 2008.