Cummins Announces Proposal to Implement Unilateral Shareholder By-law Amendment Power
Cummins Inc. (NYSE: CMI) today announced that it is planning to submit to a vote of shareholders at its 2018 Annual Meeting of Shareholders amendments to its Restated Articles of Incorporation to provide shareholders with the ability to unilaterally amend Cummins’ By-laws.
Cummins Inc. (NYSE: CMI) today announced that it is planning to submit to a vote of shareholders at its 2018 Annual Meeting of Shareholders amendments to its Restated Articles of Incorporation to provide shareholders with the ability to unilaterally amend Cummins’ By-laws.
If approved by the shareholders, the amendments to the Restated Articles of Incorporation will become effective promptly after the 2018 Annual Meeting of Shareholders, along with a conforming By-law amendment.
The proposed amendments to the Restated Articles of Incorporation would provide Cummins’ shareholders with the power to amend the By-laws upon the affirmative vote of at least a majority of the votes entitled to be cast.
The proposed amendments are consistent with Cummins’ commitment to strong Corporate Governance practices.
Cummins Inc., a global power solutions leader, comprises five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 75,500 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $735 million on sales of $34.1 billion in 2023.
