The Timken Company board of directors has reached an agreement with Tarak Mehta to become Timken’s next president and chief executive officer on September 5, 2024. Mehta is currently president of the Motion business area member of the group executive committee at ABB Ltd., a $32 billion leader in electrification and automation. Mehta will be appointed Timken president and chief executive officer after he completes a transition period with ABB.
Richard G. Kyle will remain president and chief executive officer until Mehta’s appointment date. At that time, Kyle will move into an advisory role to assist with the leadership transition. Kyle plans to retire as an employee of Timken following a decade of leadership as chief executive officer but will continue to serve on the Timken Board of directors.
Mehta has 35 years of industry experience, including a 26-year career at ABB. As president of ABB’s Motion business, he has extensive experience accelerating organic growth and innovation across global industrial markets, scaling business portfolios through M&A transactions and helping customers save energy and improve efficiency. While at ABB, Mehta held a variety of global business leadership positions of increasing responsibility, including president of Electrification Products. Mehta will be joining the Timken team in North Canton, Ohio, and is expected to be appointed to the Timken board of directors at a future date.
Kyle joined Timken in 2006 and was appointed president and chief executive officer in 2014. He is credited for transforming the company into a global diversified industrial leader while achieving record-levels of financial performance. As chief executive officer, he established two industry-leading business segments, Engineered Bearings and Industrial Motion, and significantly evolved the company’s market mix. Kyle’s disciplined capital allocation, operational rigor and focus on profitable growth enabled Timken to build scale, enter new product lines, expand globally and diversify its end markets to drive shareholder value.