Timken Co. elects board chairman, names president - steel

August 5, 2005

The Timken Company announced today that its board of directors has named Ward J. "Tim" Timken, Jr. chairman, effective August 15. The appointment follows the July 29 United States Senate confirmation of W.R. Timken, Jr. as U.S. Ambassador to Germany and his subsequent resignation as chairman and member of the Timken board, effective August 14.

The new chairman joined the company in 1992 and was elected to the board in 2002. In April 2005, he was named vice chairman, while continuing to serve as president of the company's Steel Group.

Before leading the Steel Group, Timken served as a corporate vice president in the office of the chairman. He played a key role in the 2003 acquisition of The Torrington Company, which was instrumental in the company's strategic transformation. He also has extensive experience in international business, including key positions with the company's operations in Europe and Latin America in the 1990s. In addition to his strategic development and leadership role, he continues to be responsible for government and community affairs.

Timken holds a bachelor's degree in marketing from Georgetown University and an M.B.A. from the Darden School of Business Administration at the University of Virginia. An active member of civic and business organizations, he serves on several boards, including the American Iron and Steel Institute, the Ohio Steel Council, the Ohio Business Development Council, the Stark Development Board, the Henry & Louise Timken Foundation, the Timken Foundation, and the Timken Charitable Trust.

The company also announced that Salvatore J. Miraglia, Jr. has been appointed president - steel, effective August 15, succeeding Timken. Miraglia will have responsibility for the company's Steel Group and will report to the office of the chairman. He was previously senior vice president - technology.

Miraglia began his career with the company in 1972 and held various positions in the bearing and steel businesses, as well as in the research and purchasing areas. In 1989 Miraglia was named director - manufacturing - steel, and, in 1993, vice president - manufacturing - steel. He went on to assume leadership roles in the company's bearing business before being elected senior vice president - technology and an officer of the company in December 1999.

Miraglia earned a bachelor's degree in metallurgy and material science from Lehigh University and a master's degree in metallurgy and material science from Case Western Reserve University. He also completed the Advanced Management Program at Harvard University Graduate School of Business Administration.

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