Month: April 2024

Cummins

COLUMBUS, Ind. /3BL/ – Cummins Inc. (NYSE: CMI) announced the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.

“These leaders each demonstrate, in their own unique ways, a commitment to making a positive impact on our company, our customers and our people,” said Jennifer Rumsey, Chair and CEO, Cummins Inc. “These leaders are experts in their fields and are fiercely committed to the Cummins culture and ensuring our employees are able to reach their full potential. I am confident that, as we evolve through the energy transition and continue to drive our Destination Zero strategy forward, these leaders will help us position Cummins for even greater success in the future.”

Read more about each of the leaders below.

Ricardo Roman – Vice President, Components Finance

Roman stepped into the role of Controller for the Components Business Unit in 2022 during a critical period of evolution for the business. He not only helped with the successful acquisition and integration of Jacobs Vehicle Systems and Meritor, the largest acquisition in Cummins’ history, but Roman also played a key role in evolving the Components product portfolio for the future. He is laser focused on driving profitable growth and has partnered closely with the leaders of the Components businesses to drive record financial performance.

During his more than 23 years at Cummins, Roman has built a reputation as a true business partner with a commitment to teamwork, accountability, analytical thinking and financial excellence. He has also built an extensive knowledge of Cummins’ businesses and processes through his finance leadership in the Engine Business, Aftermarket, Global Supply Chain and Components Business, among other roles.

Prior to Cummins, Roman spent five years working in the Peruvian banking system. He has a bachelor’s degree in economics with a concentration in finance from the Catholic University of Peru, a master’s degree in business administration with a concentration in finance and operations from Purdue University, and is a Certified Supply Chain Professional (CSP) and Certified Management Accountant (CMA). 

Michelle Probst – Vice President, Leadership and Talent Development

Probst recently expanded her role from Leadership Development to now leading Cummins Talent Development programs and processes globally. In this role, Probst is responsible for building and leading a network of subject matter experts responsible for building capabilities and enabling a performance and development culture at all levels of the organization. She will do this through establishing talent strategies, infrastructure and processes, as well as advising the business and sharing insights.

Probst has played a pivotal role in advancing the leadership culture at Cummins, acting as leader and HR sponsor for many leadership programs. Under her leadership, the Building Success in You program, one of Cummins’ newest focused on the Cummins leadership behaviors, reached a milestone in 2023, graduating more than 4,000 employee graduates globally since its inception. She is also committed to progressing Cummins’ DE&I strategy through integrating key themes into our Leadership Development framework, and she is currently assessing and evolving the Cummins’ performance management processes and systems.

Throughout her nearly 14 years of HR leadership at Cummins, Probst has provided human resources leadership and thought partnership for more than 10 Cummins functions and the Power Systems Business. Her extensive experience has given her not only the opportunity to gain broad visibility and understanding of the company, but also relationships and trust necessary to evolve our talent development processes to the next phase. Prior to coming to Cummins, Probst held several HR roles in the finance and banking sector and was formerly a tax accountant before making the shift into HR.

Gbile Adewunmi – Vice President, Power Systems Industrial Markets

Adewunmi took over leadership of the PSBU Industrial Markets in January 2023 as part of the reorganization of the Power Systems Business to enable a laser-like focus on ownership, profitability and growth. In this role, he is responsible for driving, implementing and executing a global strategy for Cummins’ Defense, Marine, Mining, Oil & Gas, and Rail lines of business. He is also responsible for PSBU Aftermarket business.

Both in his current role, and in his former role leading PSBU Strategy, Adewunmi has been a driving force in helping PSBU balance improvement in the core business with positioning the organization to support our customers’ decarbonization journeys. He excels at building strong relationships, driving alignment in complex internal and external business situations, and blending strategic thinking with execution. Adewunmi also has a passion for building diverse, inclusive and high-performing teams and empowering others to fulfil their potential.

Adewunmi joined Cummins in 2012 as a Manager in the Corporate Strategy group. From 2013 to 2016, he worked in the New and ReCon Parts organization where he led the Global On-Highway Accounts and Global Product Management teams. In 2017, Adewunmi moved to South Africa as the EBU and Parts Marketing Director for the Africa Middle East ABO, then in 2019 moved to Ghana to lead the Cummins North and West Africa Regional Distribution Organization.

Matt McQueen – Vice President, EBU Supply Chain

McQueen assumed leadership of our Engine Business Supply Chain in 2022 during one of the most important periods in our history as many of our businesses continued to navigate the supply constraints and other challenges caused by the pandemic. 

McQueen’s extensive Cummins experience and supply chain expertise, paired with his team-based approach to problem-solving, resulted in continued delivery to our customers, a focus on improvements to employee health and safety, and inventory reductions that were significantly ahead of plan in 2023. McQueen has also played a key role in repositioning our EBU plants for the future as we continue to build out and strengthen our manufacturing and supply chain network to support the industry’s first fuel agnostic engine platforms, as well as continue to deliver more than 1.3 million advanced engines every year.

Throughout McQueen’s nearly 28 years at Cummins, he’s held many leadership positions in manufacturing, quality and supply chain and is seen as one of our company’s most trusted supply chain advisors. He first joined the EBU Leadership Team in 2017 and has worn many important hats for the EBU business, including leading the Pickup Business and Quality organizations as well as twice leading supply chain. Prior to that, McQueen worked in or led supply chain for our Power Systems, Components and Emissions Solutions businesses. He was also the plant manager at three of our plants, including the Jamestown Engine Plant, Columbus Fuel Systems Plant and Juarez Fuel Systems Plant.

Ashwath Ram, Vice President – Supply Chain and India ABO Leader

Ram has more than 20 years’ experience at Cummins and has worked directly with all five of the company’s business units. He brings strong leadership skills and an entrepreneurial mindset to his expanded role leading the global Supply Chain function. In this role, Ram will draw upon his achievements navigating complex business environments and implementing organizational change. His responsibilities include setting the strategic direction and driving operations for our integrated supply chain functions globally, including Procurement; Manufacturing; Planning; New and ReCon Parts; and Health, Safety and Environment.

Over the last four years, Ram has served as Managing Director of Tata Cummins and Cummins India ABO Leader (two responsibilities he will retain in his current scope) with accountability for managing and growing the India business. Under his leadership, the India ABO has been on a solid growth trajectory with record sales and the highest compound annual growth rate and year-over-year growth in the ABO’s history. Ram oversees the performance of the company’s five business units, including Engine, Power Generation, Distribution, Components and Accelera by Cummins. He also built and mentored a high-performance leadership team and developed a strong, performance driven culture within the ABO.

Ram’s career has taken him from India to the United States and later back to Pune, India, where he resides today. A serial entrepreneur, Ram started and ran several businesses in manufacturing, IT, consulting and design services before returning to Cummins in 2007 to serve in various leadership positions in Power Generation, the Tata Cummins Joint Venture and the Industrial Engine business.

About Cummins Inc.

Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 75,500 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $735 million on sales of $34.1 billion in 2023. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/.

Media Contact

Jon Mills 
Director – External Communications 
(317) 658-4540 jon.mills@cummins.com

HOUSTON, April 29, 2024 /3BL/ – The Baker Hughes Foundation announced a $152,000 grant to EARTHDAY.ORG in support of climate and environmental literacy as well as the global Earth Day movement. EARTHDAY.ORG’s mission is to diversify the environmental movement and mobilize it as the most effective vehicle to build a healthy, sustainable environment, address climate change and protect the Earth for future generations.

The grant will support EARTHDAY.ORG’s creation and dissemination of a comprehensive guide for incorporating climate education. EARTHDAY.ORG will lead trainings around the guide through exhibitions and workshops at national teacher engagements, equipping educators with necessary tools and knowledge to effectively teach about climate change itself, their role in environmental stewardship as well as the economic opportunities that the green environment brings. In addition, it will provide the next generation with tools to innovate, lead and cultivate a sustainable future.

“We are advocating for climate education to be part of every curriculum, in every school globally,” said Bryce Coon, director of climate education, EARTHDAY.ORG. “Through the generosity of Baker Hughes Foundation, we can take a step closer towards that goal by giving teachers tangible resources to bring climate education into their classrooms today.”

This grant aligns with the Foundation’s mission of advancing education and ensuring future generations can thrive. This donation also supports Baker Hughes’ commitment to advancing the United Nations’ Sustainable Development Goals (SDGs)– specifically SDG #4 quality education, to promote lifelong learning opportunities for all.

“Driving change towards a sustainable world requires a sustainable mindset that begins with the right knowledge and education. At Baker Hughes, sustainability education and training are critical elements of how we are embedding sustainability across our company to empower our employees to take energy forward. We’re proud to support EARTHDAY.ORG for this noble cause,” said Allyson Anderson Book, chief sustainability officer at Baker Hughes.

To learn more about Baker Hughes’ work in supporting its communities, visit our Corporate Responsibility website.

About the Baker Hughes Foundation: 

For 25 years, the Baker Hughes Foundation has been a steward of charitable resources for meaningful community impact. The Foundation seeks to advance environmental quality, education, health, safety, and wellness around the world by supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. The Baker Hughes Foundation makes strategic philanthropic contributions, matches Baker Hughes employee contributions, and awards volunteer recognition grants for outstanding employee community service.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations 

Adrienne M. Lynch 
+1 713-906-8407 
adrienne.lynch@bakerhughes.com

Homeownership is a major life milestone that marks a significant step toward long-term financial stability. However, those in the market for a home today are navigating a complex landscape, with inflation, competition in the market, down payment size and more influencing their purchasing decision. KeyBank’s 2024 Financial Mobility Survey1 notes that inflation is an extreme concern on the path to homeownership, with 40% of those in the market or who have recently purchased a home stating that inflation is their top purchasing influence.

With this top of mind for consumers, many are hesitant to enter the homebuying market. 29% of Americans do not own a home and do not plan on purchasing one in the next 12 months. Only 1 in 10 of those Americans feel that homeownership is very attainable. Homeownership may also come with unexpected expenses. 51% of Americans expect to use more of their savings in the next year. The usage of savings decreases for those in the market for a home (45%) and those who do not own a home (35%).

Despite this, homeownership is an incredibly important step to building financial equity over time. Key’s data shows that 71% of new homeowners believe they could come up with $2,000 within a month if needed and are very/somewhat confident in the ability to grow their finances (86%).

So how can Americans save up to buy a home in 2024? This Fair Housing Month, KeyBank is sharing how they can help potential homebuyers save for their big purchase. Creating a dedicated savings account is a great first step to saving for a home. In fact, that it is the top step taken by 43% of Americans to save for a new home. Working with a professional financial advisor, reducing unnecessary spending and increasing income by taking on side gigs are a few other steps Americans are taking to save money for a home.

While achieving homeownership may feel daunting, there are a number of resources available to help guide you on your journey. KeyBank is committed to helping our clients achieve their dream of home ownership with equitable and accessible resources. To get in touch with one of our expert mortgage loan officers, click here. Everyone deserves equal access to homeownership, and KeyBank is here to assist you in your big purchase.

NMLS# 399797. KeyBank Member FDIC. NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage, home equity loans and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice 

1The KeyBank 2024 Financial Mobility Survey was conducted online by Schmidt Market Research. 1,000 Americans, ages 18-70, with sole or shared responsibility for household financial decisions, who own a checking or savings account, completed the survey in September 2023. The survey asked respondents about their financial attitudes, understanding, awareness and actions over the prior year.