Cummins Inc. announced Wednesday, Feb. 13, that Robert K. Herdman, managing director of Kalorama Partners, a Washington D.C.-based consulting firm, has been elected to the company’s board of directors. Herdman brings extensive accounting and financial regulatory experience to the Cummins board.
Prior to joining Kalorama Partners, he served as chief accountant to the U.S. Securities and Exchange Commission from October 2001 to November 2002, where he was the principal adviser to the SEC on accounting and auditing issues. Before moving to the SEC, Herdman was vice chairman of professional practices for Ernst and Young’s assurance and advisory business services practice. Herdman also is a member of the board of HBSC Finance Corp. and HBSC North American Holdings, where he chairs the audit committee.
“Bob’s wealth of business and accounting knowledge and his experience working with financial regulators make him a valuable addition to our board,” says Tim Solso, chairman and chief executive officer of Columbus, Ind.-based Cummins. “Cummins is committed to complete transparency in its financial reporting, and we are counting on Bob to provide valuable counsel in this and other important areas.”
Herdman, who becomes the 10th member of the Cummins board, will serve on the audit, finance and technology and environment committees. His term begins immediately, and he will stand for re-election at the company’s annual meeting in May. All Cummins directors are elected annually.
