Cummins Inc. announced today (Jan. 10) that Chief Financial Officer Pat Ward is retiring after 31 years and Mark Smith is succeeding him. Both moves are effective March 31.
“Pat has had an extraordinary career at Cummins,” said Cummins Chairman and CEO Tom Linebarger in a press release. “He has worked in nearly every part of our company during his 31-year tenure. He has helped many business leaders, including me, figure out where the business needs improvement and what to focus on first. Pat has also coached and developed many of our financial leaders in the company, inspiring them to be the best that they can be.”
Smith brings more than two decades of financial expertise to the CFO role, most recently serving as the vice president of financial operations where he worked with finance controllers to ensure that the company met its operational and financial commitments. In addition, Smith led the investor relations, business planning and analysis, and capital management functions at Cummins.
Prior to Smith’s 20 years with Cummins, he spent six years as a public accountant with Ernst & Young in the U.K. “Mark’s global financial experience and knowledge of the company will serve Cummins and our stakeholders well, and we look forward to supporting him during the transition,” Herdman said.
“Like Pat, Mark has worked in many parts of the company and brings a wealth of experience to the job,” Linebarger said. “He also brings strong strategic and analytical skills which will be of great value as we continue to pursue our growth strategy. I am glad to have Mark as the CFO as we continue to power a more prosperous world, now and in the future.”