CANTON, Ohio — March 24, 2008 — The Timken Company (NYSE: TKR) today announced a reorganization of the innovation and growth function at the company. This organizational change, which will help streamline strategic planning and innovation processes, will take effect March 31.
“Creating customer value through innovation has always been the lifeblood of our company,” said James W. Griffith, Timken president and chief executive officer. “With this reorganization, we expect to further strengthen our processes for value creation.”
As a result of the changes, Jacqueline A. Dedo, who most recently held the position of senior vice president of Innovation and Growth, is leaving the company.
“Jacqui led a major part of our company at a difficult time in the history of the U.S. automotive industry,” said Griffith. “In her previous position as president of the Automotive Group and most recently as the senior vice president of Innovation and Growth, she made important contributions to our company’s success. We wish her well in her future endeavors.”
Senior Vice President of Technology Alastair R. Deane, who previously reported to Dedo, will report to Griffith, beginning March 31. Deane oversees Timken’s global network of technical centers and is responsible for leading the company’s technology and innovation efforts worldwide.
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 $5.2 billion in 2007, operations in 27 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.
SOURCE: The Timken Company
Media Contact: Jeff Dafler
Manager – Global Media &
Government Relations
Mail Code: GNW-37
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Telephone: (330) 471-3514
Facsimile: (330) 471-4118
jeff.dafler@timken.com
Investor Contact: Steve Tschiegg
Manager – Investor Relations
Mail Code: GNE-26
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Telephone: (330) 471-7446
Facsimile: (330) 471-2797
steve.tschiegg@timken.com
For Additional Information:
www.timken.com/media