Tarak Mehta Appointed President and CEO of The Timken Company
The Timken Company (NYSE: TKR) has appointed Tarak Mehta as its new president and CEO, effective September 5, 2024. Mehta, who previously served on ABB's Group Executive Committee and led its Motion business, succeeds Richard G. Kyle after a comprehensive search process. With 26 years of experience at ABB, Mehta brings strategic leadership and a proven track record of delivering results to Timken.
Kyle, who served as CEO for 10 years, will move into an advisory role to assist with the transition before retiring as a Timken employee in February 2025. He will continue to serve on the company's Board of Directors. Timken, a global leader in engineered bearings and industrial motion, posted $4.8 billion in sales in 2023 and employs over 19,000 people across 45 countries.
La Timken Company (NYSE: TKR) ha nominato Tarak Mehta come nuovo presidente e CEO, con effetto dal 5 settembre 2024. Mehta, che in precedenza ha fatto parte del Comitato Esecutivo del Gruppo ABB e ha guidato la sua divisione Motion, succede a Richard G. Kyle dopo un ampio processo di ricerca. Con 26 anni di esperienza in ABB, Mehta porta una leadership strategica e una comprovata esperienza nel raggiungimento dei risultati a Timken.
Kyle, che è stato CEO per 10 anni, assumerà un ruolo consultivo per assistere nella transizione prima di andare in pensione come dipendente Timken nel febbraio 2025. Continuerà a far parte del Consiglio di Amministrazione dell'azienda. Timken, leader globale nei cuscinetti ingegnerizzati e nel movimento industriale, ha registrato $4,8 miliardi in vendite nel 2023 e impiega oltre 19.000 persone in 45 paesi.
La empresa Timken (NYSE: TKR) ha nombrado a Tarak Mehta como su nuevo presidente y CEO, con efecto a partir del 5 de septiembre de 2024. Mehta, quien anteriormente formó parte del Comité Ejecutivo del Grupo ABB y dirigió su unidad de Motion, sucede a Richard G. Kyle tras un exhaustivo proceso de búsqueda. Con 26 años de experiencia en ABB, Mehta aporta liderazgo estratégico y un historial comprobado de resultados a Timken.
Kyle, quien fue CEO durante 10 años, se trasladará a un rol consultivo para ayudar con la transición antes de retirarse como empleado de Timken en febrero de 2025. Continuará sirviendo en el Consejo de Administración de la compañía. Timken, líder mundial en rodamientos diseñados y movimiento industrial, reportó $4.8 mil millones en ventas en 2023 y emplea a más de 19,000 personas en 45 países.
팀켄 컴퍼니 (NYSE: TKR)가 타락 메타를 새로운 사장 겸 CEO로 임명했으며, 이는 2024년 9월 5일부터 효력이 발효됩니다. 메타는 이전에 ABB의 그룹 집행 위원회에서 활동하며 Motion 사업을 이끌었던 경험이 있으며, 종합적인 검색 과정을 거쳐 리차드 G. 카일의 뒤를 잇게 되었습니다. ABB에서 26년의 경험을 보유한 메타는 팀켄에 전략적 리더십과 성과를 Deliver한 검증된 경력을 제공합니다.
10년 동안 CEO로 재직했던 카일은 2025년 2월 팀켄 직원으로 퇴직하기 전 전환 과정을 돕기 위해 고문 역할로 이동합니다. 그는 회사 이사회에도 계속 재직할 것입니다. 팀켄은 엔지니어링 베어링 및 산업 동작의 글로벌 리더로서 2023년 48억 달러의 매출을 기록했으며 45개국에서 19,000명 이상의 직원이 근무하고 있습니다.
La société Timken (NYSE: TKR) a nommé Tarak Mehta comme nouveau président et CEO, effective à partir du 5 septembre 2024. Mehta, qui a précédemment siégé au Comité Exécutif du Groupe ABB et dirigé son activité Motion, succède à Richard G. Kyle après un processus de recherche approfondi. Avec 26 ans d'expérience chez ABB, Mehta apporte un leadership stratégique et un parcours éprouvé en matière de résultats à Timken.
Kyle, qui a été CEO pendant 10 ans, passera à un rôle de conseiller pour aider à la transition avant de prendre sa retraite en tant qu'employé de Timken en février 2025. Il continuera à siéger au Conseil d'Administration de l'entreprise. Timken, leader mondial dans les roulements vérifiés et le mouvement industriel, a affiché 4,8 milliards de dollars de ventes en 2023 et emploie plus de 19 000 personnes dans 45 pays.
Die Timken Company (NYSE: TKR) hat Tarak Mehta zum neuen Präsidenten und CEO ernannt, der am 5. September 2024 in Kraft tritt. Mehta, der zuvor im Exekutivkomitee der ABB tätig war und das Motion-Geschäft leitete, folgt Richard G. Kyle nach einem umfassenden Suchprozess. Mit 26 Jahren Erfahrung bei ABB bringt Mehta strategische Führung und eine nachgewiesene Erfolgsbilanz in die Timken ein.
Kyle, der 10 Jahre lang CEO war, wird in eine Beratungsrolle wechseln, um den Übergang bis zu seinem Ausscheiden als Timken-Mitarbeiter im Februar 2025 zu unterstützen. Er wird weiterhin im Vorstand des Unternehmens tätig sein. Timken, ein globaler Marktführer in den Bereichen hochentwickelte Wälzlager und industrielle Bewegung, hat im Jahr 2023 4,8 Milliarden US-Dollar Umsatz erzielt und beschäftigt in 45 Ländern über 19.000 Mitarbeiter.
- Appointment of experienced leader Tarak Mehta as new CEO
- Smooth transition process with former CEO Richard G. Kyle in advisory role
- Strong financial performance with $4.8 billion in sales for 2023
- Global presence with operations in 45 countries
- None.
"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
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
Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com
Investor Relations:
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234.262.2310
investors@timken.com
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SOURCE The Timken Company
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