Cummins Achieves Top Ranking in Corporate Governance.COLUMBUS, Ind. -- Cummins Inc. (NYSE NYSE See: New York Stock Exchange : CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. ) announced today that it has received the highest possible rating for its corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. practices from GovernanceMetrics International (GMI GMI Governance Metrics International (New York, New York) GMI Giant Magneto-Impedance GMI Global MSF Interoperability GMI General Motors Institute GMI General Mills, Inc. ). Cummins was one of just 43, or 1 percent of the companies rated, that received GMI's highest rating of 10.0. GMI rated companies based on six areas of analysis: board accountability, financial disclosure and internal controls; executive compensation; shareholder rights; ownership base; takeover provisions and corporate behavior; and responsibility. Companies are rated from 0 to 10. "Cummins believes it has a responsibility to be open and transparent in all its actions," said Marya Rose, Vice President - General Counsel. "We are extremely pleased to receive GMI's highest rating, because it speaks to the effectiveness of our efforts in these important areas." GovernanceMetrics International monitors and rates corporate governance for approximately 4,200 businesses worldwide. Companies are measured using objective data, starting with a review of public information about each business that includes regulatory filing, websites and news articles. GMI assigns Individuals to whom property is, will, or may be transferred by conveyance, will, Descent and Distribution, or statute; assignees. The term assigns is often found in deeds; for example, "heirs, administrators, and assigns to denote the assignable nature of both global and national ratings to companies, allowing each corporation to compare itself to both businesses around the world and at home. About Cummins Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration filtration: see sewerage; water supply. Filtration The separation of solid particles from a fluidsolids suspension of which they are a part by passage of most of the fluid through a septum or membrane that retains most of the solids , emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana Columbus (IPA: [kəˈlʌm.bəs]) is the county seat of Bartholomew County, Indiana. The population was 39,059 at the 2000 census. The current mayor is Fred Armstrong. , (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. Cummins reported net income of $755 million on sales of $14.3 billion in 2008. Press releases can be found on the Web at www.cummins.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion