Timken Board of Directors Elects Sarah Lauber, Douglas Dynamics CFO

Rhea-AI Summary

The Timken Company has appointed Sarah Lauber to its Board of Directors, expanding the board to 12 members. Lauber, who is currently the CFO of Douglas Dynamics, brings over 25 years of financial leadership experience. She previously served at Jason Industries and began her career at KPMG. Timken's Chairman, John Timken, highlighted Lauber’s expertise in financial planning and acquisition integration, noting her diverse perspectives will enhance board discussions. Lauber holds degrees from California State University-San Bernardino and Northwestern University.

Positive

• Sarah Lauber's financial leadership experience particularly in publicly traded manufacturing companies may strengthen board decision-making.
• Her expertise in acquisition integration could facilitate future growth opportunities for Timken.

Negative

• There may be concerns regarding continuity as Lauber transitions into her new role, potentially affecting board dynamics.

NORTH CANTON, Ohio, Jan. 7, 2021 /PRNewswire/ -- The Timken Company today announced the appointment of Sarah Lauber to its Board of Directors. The election will bring The Timken Company board to 12 members.

Lauber has served as chief financial officer and secretary of Douglas Dynamics, a premier manufacturer and upfitter of work truck attachments and equipment, since 2017. Before joining the Milwaukee-based company, she served as senior vice president and chief financial officer of diversified industrial company Jason Industries from 2015 to 2017. Over the last 25 years, she has held a diverse range of financial leadership and strategic roles since starting her career as an accountant at KPMG.

"Sarah's expertise leading the finance function of multiple publicly traded manufacturing companies, her financial planning acumen and her experience with acquisition integration make her a strong addition to our Board," Timken Chairman John Timken said. "We strive for diverse points of view and welcome Sarah's perspectives to the Board."

Lauber, a licensed Certified Public Accountant, will serve as a member of the board's Audit and Compensation committees. She holds a bachelor's degree from California State University-San Bernardino and an executive MBA from Northwestern University's Kellogg School of Management.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/timken-board-of-directors-elects-sarah-lauber-douglas-dynamics-cfo-301203135.html

SOURCE The Timken Company

FAQ

Who is the newly appointed member of The Timken Company's Board of Directors?

Sarah Lauber, who is currently the CFO of Douglas Dynamics, was appointed to the Board.

What experience does Sarah Lauber bring to The Timken Company?

Lauber has over 25 years of financial leadership experience, including roles at Douglas Dynamics and Jason Industries.

What impact will Sarah Lauber's appointment have on The Timken Company?

Her appointment may enhance board discussions and decision-making, particularly in finance and acquisitions.

When was Sarah Lauber appointed to The Timken Company's Board?

Sarah Lauber was appointed on January 7, 2021.