Global power leader Cummins Inc.’s new Chief Executive Officer Jennifer Rumsey was included in Fortune magazine’s 2022 Most Powerful Women in Business list.
Rumsey was one of 50 women selected for the magazine’s 25th annual ranking, which was released earlier this month. When Fortune published its first list in 1998, two women ran Fortune 500 companies. Today, there are 46.
“I am truly honored to be included alongside these powerful women leaders,” Rumsey said. “My life and career have been shaped by instrumental people who helped me see my potential, created an environment that allowed me to be who I am at work, cared about me and enabled me to achieve my aspirations.”
Fortune highlighted Rumsey’s two decades of experience at Cummins, noting how she has led the company through supply-chain shortages, helped drive 21% year-over-year revenue growth to $24 billion in 2021, and laid the foundation for the developing technologies for hybrid and electric engines.
“This recognition is a reflection of the impact a strong support system, encouraging mentors and an inclusive environment can have,” Rumsey said. “My thanks to Fortune for the recognition and our Cummins employees who make this company and my job simply incredible.”
Rumsey began her career at Cummins working in Research and Technology, primarily focused on advancing technology to reduce criteria pollutants from diesel engines. Since then, she has held numerous positions of increasing responsibility and impact, including bringing new platforms and technologies to market, driving improvement in product quality, and developing the capability of global teams.
Rumsey became Cummins’ CEO in August 2022, the seventh CEO and first woman to lead the company since it was founded in 1919.
Fortune’s 2022 list was the first time the magazine did not produce separate rankings by international and domestic candidates, leading to what it says was the most competitive year ever to make the list. Fortune said a single ranking was a more accurate reflection of global business today.
Rumsey ranked No. 45 on Fortune’s list. The top four women in Fortune’s ranking were Karen Lynch, CEO of CVS Health; Julie Sweet, CEO of Accenture; Jane Fraser, CEO of Citigroup and Mary Barra, CEO of General Motors.
SOURCE: Cummins Inc.