Tim Solso Named GM’s Nonexecutive Chairman
Tim Solso, former CEO of engine maker Cummins Inc., who will become nonexecutive chairman of General Motors in January.
Automotive News reported that in his 12 years as CEO and chairman of Columbus, Ind.-based Cummins, Solso doubled sales, regained the company’s investment-grade credit rating and reduced its debt. He promoted more widespread adoption of clean-diesel engines and greatly expanded Cummins’ operations in China, India and Brazil.
He retired at the end of 2011, capping a nearly 40-year career with Cummins. In 2010, MarketWatch named Solso one of the five best CEOs of the decade, along with Steve Jobs of Apple and the leaders of Amazon.com, Starbucks and Google.
“From the beginning, Tim was genuine and eager to make things happen,” Joe Loughrey, a retired Cummins president who worked with Solso since the early 1970s, told Marketwatch. “He really has great instincts, and I always regarded him as someone I would be happy to take direction from.”
Solso, 66, also appeared several times on an annual list compiled by Automotive News of the highest paid executives at publicly traded automotive companies.