NORTH
CANTON, Ohio, Sept. 5,
2024 /PRNewswire/ -- The Timken Company (NYSE: TKR;
www.timken.com), a global technology leader in engineered bearings
and industrial motion, today appointed Tarak Mehta the company's president and CEO.
Mehta was also elected to Timken's Board of Directors.
"I'm excited to join Timken and hear directly from our
employees, customers and other stakeholders all around the globe
about how we can accelerate profitable growth and continue to drive
momentum for the company," said Mehta. "I look forward to
collaborating with our talented team to identify additional
opportunities to advance customer-centric innovation."
Following a comprehensive search process, the Timken Board of
Directors announced in March that Mehta, who previously served as a
member of ABB's Group Executive Committee and president of its
Motion business, would succeed Richard
G. Kyle as president and CEO. Mehta spent 26 years at ABB, a
$32 billion leader in electrification
and automation. He is an accomplished strategic leader with a
proven record of delivering results, developing global teams and
achieving operational excellence.
Mehta succeeds Kyle, who has moved into an advisory role to
assist with the leadership transition after 10 years as CEO.
Following the transition, Kyle plans to retire as a Timken employee
in February 2025, but will continue
to serve on the company's Board of Directors.
"On behalf of the Timken Board of Directors, I want to commend
Rich for his contributions and leadership during a decade of strong
growth and transformation for the company," said Timken
Chairman John M. Timken Jr. "As we look to the future, Tarak
brings the deep experience and expertise we need to continue to
advance our strategy and build on our 125-year legacy. Based on his
impressive track record and strong business acumen, we're confident
that Tarak is the right leader to guide us through our next chapter
of profitable growth."
About The Timken Company
The Timken
Company (NYSE: TKR; www.timken.com), a global technology leader in
engineered bearings and industrial motion, designs a growing
portfolio of next-generation products for diverse industries. For
125 years, Timken has used its specialized expertise to innovate
and create customer-centric solutions that increase reliability and
efficiency. The company posted $4.8 billion in sales in 2023 and
employs more than 19,000 people globally, operating from 45
countries. Timken is one of the World's Most Innovative Companies,
according to Fast Company, and has been recognized
among America's Greatest Companies, America's Most Responsible
Companies and America's Greatest Workplaces for Diversity by
Newsweek, Best Companies to Work For by U.S. News &
World Report, the World's Most Ethical Companies® by
Ethisphere and America's Most Innovative Companies by
Fortune.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
Investor Relations:
Neil
Frohnapple
234.262.2310
investors@timken.com
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SOURCE The Timken Company
