Freeland, Crompton/Cummins Inc.
Rich Freeland has been promoted to president and chief operating officer at Cummins Inc.
He will report to Tom Linebarger, who remains the CEO and chairman. Freeland was president of the company’s engine business, its largest business unit.
“As someone who has been with Cummins since 1979, and has successfully led three of our four business units over the years, Rich knows what it takes to be dependable every time for our customers across the globe,” Linebarger said in a statement.
Dave Crompton, head of the heavy-duty midrange and light-duty segment of the engine business, will succeed Freeland as president of that division.
The company also announced its board of directors approved a 25% increase in the company’s quarterly dividend to 78 cents per share from 62.5 cents.