Business
The Timken Company Announces CEO Transition
The Timken Company (NYSE: TKR; www.timken.com) Board of Directors today announced that, effective immediately, Tarak B. Mehta is departing as CEO and director based on mutual agreement due to personal reasons.
About this update from Timken Company (the)
[{"type":"text","content":"Tarak B. Mehta departing as CEO and director, effective immediatelyRichard G. Kyle appointed interim president and CEOComprehensive CEO search process underway","length":161,"tagName":"p","attribs":{}},{"type":"text","content":"NORTH CANTON, Ohio, March 31, 2025 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) Board of Directors today announced that, effective immediately, Tarak B. Mehta is departing as CEO and director based on mutual agreement due to personal reasons.","length":265,"tagName":"p"},{"type":"image","alt":"The Timken Company Logo. (PRNewsfoto/The Timken Company)","displaySize":"","headline":null,"caption":"The Timken Company Logo. (PRNewsfoto/The Timken Company)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":84,"url":"https://media.zenfs.com/en/prnewswire.com/54bf6d381a44f2cc840b4e0acd111cb4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/yOHBzvsx.1vWs3Lz5vuS8Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE0ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/54bf6d381a44f2cc840b4e0acd111cb4","width":400,"height":84}},"href":"https://mma.prnewswire.com/media/647794/TIMKEN_COMPANY_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Richard G. Kyle will return as interim president and CEO. Kyle is a member of the Timken Board of Directors and served as the company's CEO from 2014 to 2024.","length":162,"tagName":"p"},{"type":"text","content":""The Board wishes Tarak well in his future endeavors," said Timken Chairman, John M. Timken, Jr. "As interim CEO, Rich will ensure a seamless leadership transition and will focus on supporting the Timken team as we advance our successful industrial diversification strategy. Timken stands stronger today than any time in our 125-year history, with a talented leadership team and resilient business model. We are confident in the company's future and our ability to drive profitable growth."","length":514,"tagName":"p"},{"type":"text","content":"The Timken Board of Directors has launched a comprehensive CEO search process, retaining search firm Crist Kolder Associates. Work is underway to identify the most qualified internal or external candidate to serve as the company's next CEO.","length":244,"tagName":"p"},{"type":"text","content":"Kyle is a member of the Timken Board of...