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In the first and second quarters, Cummins’ sales fell compared to the same period in 2012. In the third quarter, sales rose — but not nearly as much as analysts and the company expected. On the day third-quarter earnings were announced, the company said this year’s earnings would be lower than previously expected because of weak demand for capital goods in most of its major markets. Cummins’ stock price fell 5.2 percent that day.
The company also saw significant leadership changes, with Jean Blackwell, executive vice president of corporate responsibility and chief executive officer of the Cummins Foundation, and Mark Gerstle, vice president of community affairs, retiring, and both being succeeded by Mark Levett.
Current and former employees continued to receive prestigious recognition:
Aleksey Yezerets, director of catalyst technology, was the sixth Cummins employee in company history to be named an SAE fellow, indicating “outstanding engineering and scientific accomplishments.”
Xiaoping Yang named a fellow by the American Society of Mechanical Engineers.
Vice President and Chief Technical Officer John Wall received the American Society of Mechanical Engineers 2013 Soichiro Honda Medal.
Former CEO Tim Solso chosen as the inaugural winner of the Mitch Daniels Leadership Prize.
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