The Timken Company has announced that Michael Arnold, executive vice-president and president of the Bearings and Power Transmission (B&PT) Group, intends to leave the company at the end of the year. He has accepted a new position as president and CEO of a private equity-owned firm.
He will officially retire from Timken on Dec. 31, 2010, following more than 31 years with the company.
“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 Griffith, president and CEO of Timken. “We certainly wish him well in his future endeavors.
“He leaves in place a top-notch leadership team,” Griffith added, “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.” He said the company does not intend to fill Arnold’s position and noted, “The B&PT leadership team was reorganized earlier this year, which now enables the company to have the business segment presidents report directly to the CEO.”
Arnold joined Timken 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.
www.timken.com
He will officially retire from Timken on Dec. 31, 2010, following more than 31 years with the company.
“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 Griffith, president and CEO of Timken. “We certainly wish him well in his future endeavors.
“He leaves in place a top-notch leadership team,” Griffith added, “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.” He said the company does not intend to fill Arnold’s position and noted, “The B&PT leadership team was reorganized earlier this year, which now enables the company to have the business segment presidents report directly to the CEO.”
Arnold joined Timken 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.
www.timken.com
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