CANTON, Ohio, Aug 27, 2007 (BUSINESS WIRE) -- The Timken Company (NYSE:TKR) today announced five leaders of the businesses within its new Bearings and Power Transmission Group. All five will report to Michael C. Arnold, executive vice president and president, Bearings and Power Transmission Group, and will be responsible for improving performance, increasing differentiation and accelerating growth in targeted market sectors.
Timken has appointed Michael J. Connors as president - Process Industries, J. Ron Menning as president - Aerospace and Defense, and Daniel E. Muller as president - Distribution and Services. In Mobile Industries, the company named Peter M. Sproson as vice president - Commercial Transportation Systems, and Kenneth L. Hopkins as vice president - Light Vehicle Systems.
"With these talented and accomplished leaders heading up our Bearings and Power Transmission businesses, we will have the right team in place to deliver additional value to our customers," said Arnold. "As we better align our organization to meet customer needs and focus each of these businesses on improved performance and accelerated growth in targeted markets, we also expect to provide strong returns to our shareholders."
Connors joined the company in 1983 as a manufacturing engineer and has held various manufacturing, market and business development positions. Prior to his current position, he served as vice president, industrial equipment, leading that business through an unprecedented period of rapid growth in global heavy-industries markets.
Menning, who joined Timken in 1983, was previously vice president - aerospace, health and positioning control. He has held several leadership roles at the company and led a major expansion in Timken's aerospace technology, product and services portfolio.
Muller began his career at Timken in 1979 and was most recently vice president - global distribution - sales and marketing. Since taking on that role in 2001, Muller increased the company's offerings by introducing Timken(R) seals, lubricants and related products and services through a global distribution network.
Sproson, who was previously vice president - automotive engineering & marketing, began working at Timken in 1978 as a student apprentice in England. In his prior role, he implemented key elements of Timken's automotive restructuring program and improved alignment of the company's engineering capabilities to profitable market opportunities.
Hopkins joined Timken in 2004 to lead innovation and strategy for Timken's Automotive Group. In 2006, he was named vice president for Timken's automotive business in Europe where he focused on improving profitability through a strategy of increasing the differentiation of the company's automotive products.
About The Timken Company
The Timken Company (NYSE: TKR, www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers to perform faster and more efficiently. With sales of $5.0 billion in 2006, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.
Certain statements in this news release (including statements regarding the company's expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to expected growth in targeted market sectors and expectations regarding the company's financial performance are forward-looking. The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including the company's ability to achieve the benefits of its future and ongoing programs and initiatives, including, without limitation, the organization changes announced in this release. Additional important factors are described in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2006, page 40, and in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007. The company undertakes no obligation to update or revise any forward-looking statement.
SOURCE: The Timken Company
The Timken Company
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Investor Contact: Steve Tschiegg
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