NORTH CANTON, Ohio,
Sept. 13, 2016 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a global leader in
bearings, has announced that J. Ted
Mihaila, senior vice president and corporate controller will
retire December 1 after more than 41
years of service with the Company. In connection with Mihaila's
retirement, Shelly M. Chadwick has been appointed vice
president ‒ finance and chief accounting officer, effective
November 1.
"Ted retires from the company after a distinguished career
marked by significant achievements in the finance area that have
contributed to the overall success of the company," said
Philip D. Fracassa, executive president and chief
financial officer, in making the announcement. "We appreciate Ted's
steady hand over the years and wish him the best in retirement.
"At the same time, we're pleased to expand Shelly's
responsibilities to include the role of chief accounting officer,"
said Fracassa. "Shelly has strong financial acumen and leadership
skills and has delivered impressive results during her tenure with
Timken. She will inherit a strong team and continue our efforts to
drive financial compliance and improved performance on a global
basis."
Chadwick joined Timken in 2011 as assistant corporate controller
and in 2013 became controller of the company's Process Industries
segment. In 2014, she was named vice president of treasury with her
responsibilities expanded thereafter to include investor relations.
Prior to joining Timken, Chadwick was vice president of finance and
chief financial officer at Eckart America and previously held
financial leadership roles at Noveon Inc. and BF Goodrich.
Chadwick holds a bachelor's degree in business management and
finance from Westfield State University and a master's degree in
business administration from Anna Maria
College, both in Massachusetts. She is a member of Financial
Executives International, serves on the board of directors of
ArtsinStark, a non-profit organization that raises awareness of the
value of arts in the community, and is a charter member for the
local chapter of Zonta International, which focuses on advancing
the status of women worldwide.
Mihaila joined Timken in 1975 and during his career held a
number of different accounting and finance roles, including manager
of accounting, general manager of business economics, director of
internal audit and vice president and controller for the company's
former Industrial Bearings segment. Mihaila was named to his
present position of senior vice president and corporate controller
in 2006. He currently serves on the board of directors of Habitat
for Humanity East Central Ohio and is a member of the advisory
boards of The University of Akron's
George W. Daverio School of
Accountancy and Walsh University's
DeVille School of Business.
About The Timken Company
The Timken Company
(NYSE: TKR; www.timken.com) manufactures and markets engineered
bearings and mechanical power transmission products including gear
drives, belts, chain, couplings and related products. The company
also offers a spectrum of industrial services, including powertrain
rebuild and bearing repair. The leading authority on tapered roller
bearings, Timken applies its deep knowledge of metallurgy,
tribology and mechanical systems to improve reliability and
efficiency of machinery and equipment all around the world. The
company's growing portfolio features many strong industrial brands
including Timken®, Fafnir®, Philadelphia
Gear®, Carlisle®, Lovejoy®,
Drives® and InterlubeTM. Known for its
quality products and collaborative technical sales model, Timken
posted $2.9 billion in sales in 2015.
With more than 15,000 employees operating from 28 countries, Timken
makes the world more productive and keeps industry in motion.
Media Relations:
234.262.3514
mediarelations@timken.com
Investor Relations:
Shelly
Chadwick
234.262.3223
shelly.chadwick@timken.com
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SOURCE The Timken Company