Timken Launches CEO Search After Mehta Steps Down

Dow Jones

Apr 01, 2025

By Connor Hart

Timken is searching for a new top executive after Tarak Mehta stepped down from the role, citing personal reasons.

The company--which makes engineered bearings and industrial-motion products--said Monday that Richard Kyle will return as interim president and CEO until a permanent replacement is named. Kyle, who is 59, previously held the company's top role from 2014 to 2024.

As interim CEO, Kyle will be entitled to a base salary of $1.2 million. He will additionally receive a deferred share award worth $9 million, as well as two performance-based restricted stock unit awards worth a combined $3.3 million.

In connection with his departure, Mehta entered a settlement agreement with the company under which he is entitled to receive a cash payment of nearly $9.3 million.

Timken retained Crist Kolder Associates to help it find its next chief executive. The company will consider both internal and external candidates, it said.

Shares edged 1.5% lower, to $70.79, in after-hours trading. Through Monday's close, the stock is down 18% in the past year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 31, 2025 16:54 ET (20:54 GMT)

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Through Monday's close, the stock is down 18% in the past year. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 31, 2025 16:54 ET (20:54 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TKR","symbol_name":"铁姆肯","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2524970567","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2524970567","pubTimestamp":1743454440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Timken is searching for a new top executive after Tarak Mehta stepped down from the role, citing personal reasons.The company--which makes engineered bearings and industrial-motion products--said Monday that Richard Kyle will return as interim president and CEO until a permanent replacement is named. 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Through Mon","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TKR":"铁姆肯"},"translate_title":"梅塔辞职后铁姆肯公司启动首席执行官搜寻","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TKR":1},"content_text":"By Connor Hart \n\n\n  Timken is searching for a new top executive after Tarak Mehta stepped down from the role, citing personal reasons. \n\n\n  The company--which makes engineered bearings and industrial-motion products--said Monday that Richard Kyle will return as interim president and CEO until a permanent replacement is named. Kyle, who is 59, previously held the company's top role from 2014 to 2024. \n\n\n  As interim CEO, Kyle will be entitled to a base salary of $1.2 million. 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