What is the significance of Georgia Nelson joining the Board of Directors?

Georgia Nelson's appointment is significant because she brings extensive experience from the power generation industry. This expertise is expected to be valuable to Cummins' strategic decisions and oversight, particularly given her leadership roles at Midwest Generation and Edison Mission Energy.

What is the new quarterly dividend amount and when will it be paid?

The Board of Directors declared a quarterly cash dividend of $0.30 per share. This dividend is payable on September 1, 2004, to shareholders who are on record as of August 18, 2004.

Who will take over Susan K. Carter's responsibilities?

Following Susan K. Carter's resignation as Vice President - Finance and Chief Accounting Officer, her duties will be assumed by Cummins' Chief Financial Officer, Jean Blackwell, and other members of the Cummins finance organization.

What is the expected impact of Ms. Nelson's committee appointments?

Ms. Nelson's appointments to the Finance Committee and the Technology and Environment Committee suggest that the Board values her perspective on financial strategy and oversight, as well as on matters related to technology development and environmental considerations within the company's operations.

CMI 8-K SEC Disclosure — Jul 15, 2004

Summary

Cummins Inc. (CMI) filed an 8-K report on July 15, 2004, detailing significant board and dividend activity. The most notable event is the election of Georgia Nelson, President of Midwest Generation EME LLC, to the Board of Directors. Ms. Nelson's extensive experience in the power generation industry is expected to provide valuable counsel to Cummins. She has been appointed to both the Finance Committee and the Technology and Environment Committee. In addition to the board appointment, the company's Board of Directors declared a quarterly cash dividend of $0.30 per share, payable on September 1, 2004, to shareholders of record on August 18, 2004. The filing also disclosed the upcoming resignation of Susan K. Carter, Vice President - Finance and Chief Accounting Officer, who is departing to join Lennox International Inc. Her responsibilities will be absorbed by the existing finance leadership team.

Key Highlights

1Georgia Nelson elected to Cummins Board of Directors, effective immediately, with term through the next annual meeting (April 2005).
2Nelson appointed to the Board's Finance Committee and Technology and Environment Committee.
3Nelson brings significant experience from the power generation industry as President of Midwest Generation EME LLC.
4Quarterly cash dividend of $0.30 per share declared.
5Dividend payment date set for September 1, 2004.
6Record date for dividend payment is August 18, 2004.
7Susan K. Carter, VP - Finance and Chief Accounting Officer, announced her intention to resign to join Lennox International Inc.

CUMMINS INC 8-K Report (Jul 15, 2004)

Summary

Key Highlights

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