#United States #North Canton #Timken Company #Tarak Mehta #Richard Kyle

Leadership Transition at The Timken Company

The Timken Company, renowned for its innovation in engineered bearings and industrial motion, has made significant changes in its leadership team. As of March 31, 2025, Tarak B. Mehta has stepped down as CEO and director of the organization. This transition comes as a mutual decision, with the company's Board of Directors emphasizing personal reasons behind the departure.

In the wake of Mehta's exit, Richard G. Kyle has been appointed as the interim president and CEO. With a history of leadership within the company, Kyle previously served as CEO from 2014 to 2024 and is currently a member of the Timken Board of Directors. Commenting on the transition, John M. Timken, Jr., the Chairman of the Board, expressed the organization's gratitude toward Mehta, wishing him well in his future endeavors.

Kyle's return as interim CEO is seen as a strategic move to ensure stability during this transitional phase. He brings with him a wealth of experience that will guide Timken effectively forward while the Board initiates a thorough search for a new permanent CEO. The Board has engaged Crist Kolder Associates to assist in this search process, seeking the best-qualified candidates - both from within the company and externally.

Under Kyle's previous tenure, Timken has achieved remarkable growth and diversification. His leadership saw the company transform into a global industrial powerhouse while maintaining impressive financial performance. Kyle's disciplined approach to managing capital allocation and operational strategies enabled the company to build upon its strong foundation and enter new markets, furthering Timken’s commitment to delivering value to its shareholders.

Throughout its 125-year history, Timken has been synonymous with innovation, focusing on providing customer-centric solutions that improve reliability and efficiency across various industries. With $4.6 billion in sales reported for 2024, the company continues to thrive, employing approximately 19,000 people across 45 countries worldwide.

As Timken navigates this leadership change, the commitment to its industrial diversification strategy remains unchanged. The company is poised for future growth, driven by a talented leadership team and a resilient business model that positions it well in the global market. The Board's confidence in the company's trajectory underscores its dedication to driving profitable growth in the coming years.

The leadership transition at The Timken Company underscores the dynamic nature of corporate governance and the importance of strategic decision-making in ensuring continued success. As the search for a new CEO unfolds, stakeholders can remain assured that Timken is committed to maintaining its reputation as an industry leader and innovator in engineered solutions.