Houston, TX (Ad Astra PR) – Former Cummins Inc. (CMI, NYSE) Chairman and Chief Executive Officer Theodore “Tim” Solso, an internationally-renowned technology and business leader, has been elected to the Board of Directors of Ad Astra Rocket Company. The vote was cast by the Corporation’s shareholders at their 2013 annual meeting on November 12, 2013, held at the Company’s Texas Headquarters near Houston. Solso’s election accompanies that of eight Directors who compose the nine-member Board. He becomes the 9th member to join the top leadership of the Company. His term begins immediately. All Ad Astra board members are elected annually.
A native of Portland, Oregon, Mr. Solso began his career at Cummins in 1971, ultimately reaching the top post of the company in 2000. Under his leadership the company became a global technology leader with a diversified portfolio of diesel and gas engine technology, power generation and related components, topping $18 billion in annual sales. During his tenure at Cummins, the company’s stock rose from just over $4/share to more than $120/share. He retired from Cummins in 2011 but remains active on the boards of General Motors and as Lead Independent Director of The Ball Corporation. He is past chairman of the U.S.–Brazil CEO Forum and served on President Obama’s president management advisory board.
In addition to his business activities, Mr. Solso has a long record of involvement in environmental, educational and social justice initiatives. He serves on The Master Card Foundation and is President of the Board of Directors of Earth University in Costa Rica.
Among his notable honors, Mr. Solso was awarded the Ellis Island Medal of Honor in 2008. He was selected as the national Six Sigma CEO of the year in 2007, and, in early 2009, was awarded the William R. Laws Human Rights Award by the Human Rights Commission of Columbus, Indiana. He is the inaugural winner of the Governor Mitch Daniels leadership prize this year. Mr. Solso earned his bachelor’s degree at DePauw University in 1969 and his MBA from Harvard University in 1971.
“We are deeply honored and delighted to have Tim on our Board,” said Dr. Franklin Chang Díaz, Ad Astra’s Chairman and Chief Executive Officer. “Tim brings a new dimension of business strength and corporate management experience to Ad Astra. We look forward to benefiting from his broad experience and expertise as our Company reaches out to global, space and energy markets,” he added.
ABOUT AD ASTRA
Established in 2005, Ad Astra Rocket Company is the developer of the Variable Specific Impulse Magnetoplasma Rocket (VASIMR®) engine, an advanced plasma space propulsion system aimed at the emerging in-space transportation market. Ad Astra also owns and operates Ad Astra Servicios Energéticos y Ambientales (AASEA) and Ad Astra Rocket Company, Costa Rica, respectively supporting research and development subsidiaries in the US and Guanacaste, Costa Rica. Through its subsidiaries, the company also develops earthbound high technology applications in renewable energy, advanced manufacturing and applied physics. Ad Astra has its main laboratory and corporate headquarters at 141 W. Bay Area Boulevard in Webster, Texas, USA, about two miles from the NASA Johnson Space Center.