People: Cummins Inc (CMI.N)
Mr. Robert K. Herdman is an Independent Director of Cummins Inc. Mr. Herdman has been Managing Director of Kalorama Partners LLC, a Washington, D.C. consulting firm specializing in providing advice regarding corporate governance, risk assessment, crisis management and related matters since 2004. He was the Chief Accountant of the SEC from October 2001 to November 2002 prior to joining Kalorama. Prior to joining the SEC, he was Ernst & Young's Vice Chairman of Professional Practice for its Assurance and Advisory Business Services (AABS) practice in the Americas and the Global Director of AABS Professional Practice for Ernst & Young International. Since 2011, he has been a member of the Board of Directors and has chaired the Audit Committee of WPX Energy, Inc. He has been a member of the Board of Directors of HSBC Finance Corporation since 2004 and of HSBC USA, Inc. since 2010. He served on the Audit Committees of both companies through April 2013. He has been a member of the Board of Directors of HSBC North America Holdings, Inc. since 2005 and currently serves on its Audit Committee. The HSBC entities belong to a single controlled group of corporations and their Boards of Directors conduct their meetings simultaneously with identical membership. We believe that Mr. Herdman is well qualified to be a director of our company because of his background as the Chief Accountant of the SEC and his professional experiences and accomplishments.
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