Timken Announces Departure of Executive Vice President
Executive vice president Michael Arnold, head of Timken's bearings and power transmission group, will retire at the end of the year to head Ryerson, a metals distributor owned by private equity firm Platinum Equity. Arnold, 54, will not be replaced. Segment presidents will report directly to Timken president and CEO James Griffith.
"Mike has had a long and successful career with Timken leading the bearings and power transmission group through an evolution that has enabled us to achieve higher sales and significant profit improvements," said James W. Griffith, president and chief executive officer of Timken. "We certainly wish him well in his future endeavors. He leaves in place a top-notch leadership team, a high-performing group that is well-prepared to build on the momentum, carrying the business into new markets and expanding well beyond Timken's current product and service portfolio."
Arnold joined The Timken Company in 1979 as a sales engineer in Cleveland, Ohio. He thereafter held a succession of sales and general management positions with increasing responsibility. He was named vice president - bearing business process advancement in 1998, promoted to president - industrial in 2000 and has held his current position since 2007.
|The Timken Company|