TIMKEN CO appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On March 26, 2024, Richard G. Kyle, President and Chief Executive Officer of The Timken Company (the "Company") and member of the Company's Board of Directors (the "Board"), notified the Company of his intention to retire from his position as President and Chief Executive Officer. Mr. Kyle will remain on the Board following his retirement.


In connection with Mr. Kyle's notification, the Company has reached an agreement with Tarak Mehta to become the President and Chief Executive Officer of the Company on September 5, 2024 following the conclusion of a negotiated transition period with his current employer (the "Appointment Date"). Mr. Mehta, age 57, currently serves as President, Motion Business Area and a Member of the Group Executive Committee of ABB Ltd, a technology leader in electrification and automation. During his 26-year career with ABB, Mr. Mehta has held a variety of roles of increasing responsibility, including President Electrification Products (2015-2022) and President Low Voltage Products (2010-2015), among others. Mr. Mehta is expected to be appointed to the Board of the Company at a later date.


Mr. Kyle will remain in his current position as President and Chief Executive Officer until the Appointment Date, after which he will continue to serve as an employee of the Company as Advisor to the CEO for a transition period (the "Transition Period"). Mr. Kyle will continue to act as the Company's principal executive officer through the filing of the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2024, at which point Mr. Mehta will assume such role. Mr. Kyle will receive no additional compensation for his service as a Director while he is an employee of the Company.