April 2, 2013
Cummins shareholder John Chevedden wants the Indiana-based company’s chairman of the board of directors to be independent — not a dual position with the company’s chief executive officer, The Republic reported.
Chevedden plans to ask shareholders during the company’s annual meeting next month to adopt a policy that would prevent the Cummins CEO from also serving as chairman of the board.
According to The Republic, Chevedden also raised concerns in Cummins’ proxy statement released Monday about directors who serve on the board for too long and about executive compensation not being tied enough to company performance.
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