Staff Reports
Cummins, Inc. has announced Steve Chapman, Group Vice President of China and Russia, is retiring effective July 31 after 35 years of service with the company. Nathan Stoner is replacing Chapman and being promoted to Vice President, China ABO, effective March 30.
Chapman joined Cummins in 1985 and was a key part of teams that began partnerships in China and then Russia in the mid and late 1980s, Dongfeng and Kamaz. Over the career that followed, Chapman was integral to many of Cummins important partnerships and joint ventures in China, Russia, and India.
“Steve has a unique ability to bridge countries, cultures, customers, markets and economies,” said Tom Linebarger, chairman and CEO, Cummins Inc. “From the beginning, Steve had a clear vision and recognized that we had many opportunities to bring our products and technologies to new customers and markets outside of the United States. His unrelenting commitment to breaking down barriers and lifting up people will be his legacy for many years to come. I will miss Steve and wish him great happiness in his retirement.”
Over his career, Chapman held several positions related to Cummins’ international operations, including leadership of Southeast Asia and China during the 1990s. From 2002 to 2005, he established the International Distribution Business Unit, the predecessor of the current Distribution Business Segment, and served as its first business segment president. After heading up the Emerging Markets and Business (EMB) from 2005 to 2008, he moved back to Beijing in 2008 to lead Russia and China ABO.
In addition to his Cummins accomplishments, Chapman has had the rare distinction of working in China over the entire 40 years of China’s “Reform and Opening Up” and has been recognized by the Chinese government, media and business associations.
Stoner will report directly to President and Chief Operating Officer Tony Satterthwaite. Stoner has been with Cummins since 2010. Alexei Ustinov, Vice President — Off-Highway Engine Business & Russia ABO Leader, will continue to lead the Russia ABO.
“China is very important to Cummins and I believe that Nathan is the right choice to fill this critical leadership role,” said Linebarger. “Nathan is a terrific leader, a strategic thinker and an accomplished businessperson who delivers results while also developing high-performing teams. Nathan has a love for China and our people there, and he has a deep commitment to Cummins and our customers. These combined qualities make us confident that Nathan is the best person to lead Cummins China ABO into this new decade.”
Stoner currently serves as General Manager of Partnerships and the Engine Business Segment for the China Joint Venture Business. Stoner has previously served as the General Manager for the Power Systems Business in China, where he successfully led the restructure and integration of the former Power Generation Business, HHP Business, and the CCEC joint venture.
Stoner also served as Executive Director — Corporate Business Development, where he was responsible for developing, managing and executing Cummins’ global inorganic growth initiatives including acquisitions, joint ventures, strategic alliances, divestitures and technology licensing. Stoner was also was the Partnership and Key Account Functional Excellence Leader for China.
Stoner received his bachelor’s degree in Architecture and Mechanical Engineering from Yale University and an MBA from Yale School of Management. Stoner has lived and worked in several cities across the United States, London in the U.K., Addis Ababa in Ethiopia, and several cities in China. Currently, Stoner lives with his family in Beijing.
