Timken announces management and board changes
The Timken Co. has announced that its board of directors has named Richard G. Kyle as president and CEO, effective immediately. The board also elected John M. Timken Jr. as chairman following its annual shareholder meeting.
Kyle replaces James W. Griffith, who became president of Timken in 1999 and CEO in 2002. Griffith is retiring from the company this year and did not stand for re-election as director. He remains with the company until June 30, 2014, to assist with the leadership transition and oversee the spinoff of TimkenSteel Corp. as an independent publicly traded entity.
Kyle began his career at Timken in 2006 as vice president of manufacturing and was named president of the aerospace and mobile industries segments in 2008. In 2012 he was named group president, responsible for the aerospace and steel segments as well as the engineering and technology organization. He was named COO in September 2013 and has been a director since November 2013.
John Timken is a private investor and entrepreneur who has participated in a number of successful ventures in a variety of industries. He joined the board in 1986 and has played a major role in the company's strategic drive to add product lines that complement its bearing product portfolio, including its acquisition of The Torrington Co. in 2003.