Timken Makes Two Key Appointments to Finance Team
06 Novembre 2006 - 5:39PM
PR Newswire (US)
Mihaila, Fracassa named senior vice presidents CANTON, Ohio, Nov. 6
/PRNewswire-FirstCall/ -- The Timken Company (NYSE:TKR) today
announced the appointment of J. Ted Mihaila to the position of
senior vice president and controller, and named Philip D. Fracassa
as senior vice president - tax and treasury. Fracassa and Mihaila
will both report to Glenn A. Eisenberg, Timken's executive vice
president - finance and administration, and will serve as officers
of the company. Mihaila has served as controller for Timken's
Industrial Group since 2000 and took on the additional
responsibility of vice president - new business development in
2006. He has held several key finance roles of increasing
responsibility since joining Timken in 1975 and holds a bachelor's
degree in accounting from the University of Akron and a master's
degree in business administration from Kent State University. "Ted
has a strong track record of distinguished service to Timken across
his 31-year career," Eisenberg said. "His in-depth knowledge of the
company's business priorities, processes and systems will be vital
assets as we advance our efforts to improve our financial
performance on a global basis." Fracassa, who will be responsible
for leading the global tax reporting, planning and strategy
functions as well as overseeing the company's treasury activities,
has served as vice president - tax since joining the company in
2005. Prior to coming to Timken, Fracassa was senior tax counsel
and director of taxes for Visteon Corporation, where he had
responsibility for the company's global tax function. He holds a
bachelor's degree in accounting from the University of Detroit and
a juris doctor degree from the University of Detroit Mercy School
of Law, and is a Certified Public Accountant. "In a short time,
Phil has made significant contributions to Timken. He has a global
perspective on tax strategy, and his leadership in the tax and
treasury area will be highly valuable to Timken as we continue to
position the company to grow in key markets," Eisenberg said.
Mihaila and Fracassa will assume their new roles beginning Dec. 1,
2006. About The Timken Company The Timken Company
(NYSE:TKRNYSE:http://www.timken.com) keeps the world turning, with
innovative ways to make customers' products run smoother, faster
and more efficiently. Timken's highly engineered bearings, alloy
steels and related products and services turn up everywhere. With
operations in 27 countries, sales of $5.2 billion in 2005 and
27,000 employees, Timken is Where You Turn(TM) for better
performance. NEWS MEDIA CONTACT: Jeff Dafler, Manager - Global
Media Relations & Government Affairs, Telephone: (330)
471-3514, Facsimile: (330) 471-4118, INVESTOR CONTACT: Steve
Tschiegg, Manager - Investor Relations, Telephone: (330) 471-7446,
Facsimile: (330) 471-2797, For Additional Information:
www.timken.com/media www.timken.com/investors DATASOURCE: The
Timken Company CONTACT: Media, Jeff Dafler, Manager - Global Media
& Government Relations, +1-330-471-3514, or Facsimile,
+1-330-471-4118, or , or Investors, Steve Tschiegg, Manager -
Investor Relations, +1-330-471-7446, or Facsimile, +1-330-471-2797,
or , both of The Timken Company Web site: http://www.timken.com/
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