Timken Co. (TKR) has revealed that its President and Chief Executive Officer, Richard Kyle, is set to retire. The successor, Tarak Mehta, will assume both roles on September 5, 2024.
Upon retirement, Kyle is not completely departing from Timken Co. He will offer his services in an advisory capacity to ensure a seamless leadership transition and plans to remain a member of the Timken Board of Directors.
Mehta's present position sees him as the president of the Motion business at ABB Ltd, where he also serves as a member of the Group Executive Committee. After a period of transition at ABB, he is expected to step into his new roles as President and CEO at Timken.
