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Timken Names Michael A. Discenza Chief Financial Officer

1. Timken appointed Michael A. Discenza as CFO, effective immediately. 2. Discenza brings 25 years of experience at Timken and strong financial expertise. 3. He succeeds Philip D. Fracassa, who is leaving for another opportunity. 4. Discenza is expected to drive Timken's growth and performance. 5. Timken generated $4.6 billion in sales in 2024.

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Why Bullish?

The appointment strengthens financial leadership and may improve investor confidence, akin to historic CFO transitions leading to positive stock performance.

How important is it?

Leadership appointments can significantly impact strategic direction and investor sentiment, influencing stock price.

Why Short Term?

Immediate leadership changes typically boost stock sentiment and can yield short-term performance spikes.

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GECATABB
, /PRNewswire/ -- The Timken Company (NYSE: TKR), a global technology leader in engineered bearings and industrial motion, today announced that its Board of Directors has appointed Michael A. Discenza vice president, chief financial officer and an officer of the company, effective immediately. Discenza has 25 years of experience at Timken in roles of increasing responsibility, including the last 10 as vice president, finance, and group controller.      "Mike is an exceptional leader with strong financial expertise, strategic vision and a commitment to operational excellence," said Richard G. Kyle, president and CEO. "The Board and I are very confident in his ability to lead our global financial organization to drive Timken's growth and performance."  Since joining the company in 2000, Discenza has progressed through a variety of financial and accounting leadership roles. A trusted partner to the executive leadership team, Discenza combines extensive industry knowledge with financial expertise to optimize the performance of the business. His experience also includes accounting and external reporting, financial planning and analysis, investor relations and advising the Board's audit committee. He holds bachelor's and master's degrees in economics from The University of Akron and is a certified management accountant. Discenza succeeds Philip D. Fracassa, who is leaving Timken to pursue another opportunity. "We thank Phil for his many years of service and his nearly 12 years of leadership as chief financial officer," Kyle said. "We wish him the very best in his future endeavors."About The Timken CompanyThe Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, designs a growing portfolio of next-generation products for diverse industries. For more than 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. Timken posted $4.6 billion in sales in 2024 and employs approximately 19,000 people globally, operating from 45 countries.Media Relations:Scott Schroeder234.262.6420[email protected]Investor Relations:Neil Frohnapple234.262.2310[email protected]SOURCE The Timken Company WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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