Black executive Sharon Barner earns $3.4-million salary from Cummins in 2022

One of America’s leading Black executives in administration, Sharon Barner, the Vice President and Chief Administrative Officer (CAO) of Cummins Inc., received a total compensation package of $3.35 million from the American multinational corporation in 2022.

Sharon Barner — who assumed the role of vice president, CAO & corporate secretary of Cummins in April 2021 — received a compensation package comprising a base salary of $0.70 million and a performance-based short-term incentive of $0.90 million. This reflects her pivotal role in leading the administrative strategy and global administrative functions of Cummins Inc.

The accomplished administrative veteran also received a long-term incentive award of $1.04 million, underscoring her unwavering dedication and expertise as a seasoned executive. Under her joint leadership, Cummins recorded a 17.98 percent surge in gross profit, rising from $5.7 billion in 2021 to $6.72 billion at the end of 2022.

Driving global success: Sharon Barner’s journey from USPTO to Cummins leadership

With over three decades of experience in intellectual property law, Barner’s private practice career saw her heading the Intellectual Property Department of Foley & Lardner in Chicago, leading a team of more than 200 lawyers.

Before joining Cummins, she served as deputy undersecretary of commerce for intellectual property and deputy director of the U.S. Patent and Trademark Office (USPTO), leading 15 foreign missions during her two-year tenure in that role.

As the vice president and CAO of Cummins, Barner oversees eight critical global functions of the group, including communications, marketing, government relations, ethics, compliance, facilities, security, legal affairs, and Cummins’ global shared services organization.

Sharon Barner’s power moves: Minority stake of $4.28 million reflects commitment to Cummins’ triumph

As Barner continues to shape and execute global administrative strategies, she significantly contributes to the growth and financial success of Cummins. In recent times, the group’s revenue grew by more than 16 percent from $24.02 billion to $28.07 billion in 2022, while assets surged by 27.79 percent from $23.71 billion in 2021 to $30.30 billion in 2022.

Beyond her leadership roles, Barner owns a minority 0.013-percent stake in Cummins — equivalent to 17,874 shares. This stake, worth $4.28 million, underscores her vested commitment to the continued success of the American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.