COLUMBUS, Ind. — Cummins wasted no time in announcing a replacement for the company’s engine business, following the announced departure of its president Jim Kelly.

Yesterday, Cummins announced Kelly would be stepping down from his role as president of the engine business to pursue other projects. Rich Freeland, currently president of Cummins components business, will take his place, the company has announced.

Anant Talaulicar, managing director of Cummins India will take over the components business. Both Freeland and Talaulicar will assume their new roles in March, 2010, according to Cummins.

“Rich has done an outstanding job leading the Components Business and his breadth of experience leading multiple business units, as well as the depth of his prior work in our engine-related businesses will serve him well in his new role,” said Cummins president and COO Tom Linebarger. “Anant is a strong leader with significant success at growing Cummins’ business in international markets, which will be invaluable as he expands his responsibilities.”

Linebarger also bid farewell to Kelly: “Jim has been instrumental in the Engine Business’ success and transformation over the last two decades, and for nearly five years he has effectively led the business during a period of both record growth and the most difficult recession in decades.”

“Earlier this year, Jim expressed his desire to retire and for a smooth leadership transition in the Engine Business,” Linebarger continued. “I am extremely pleased that he has decided to remain with Cummins a while longer in order to help us tackle some important enterprise-wide initiatives.”