Timken Adds Kim Ryan, Hillenbrand President and CEO, to Board of Directors
Rhea-AI Summary
The Timken Company (NYSE: TKR), a global technology leader in engineered bearings and industrial motion, has appointed Kimberly K. (Kim) Ryan to its Board of Directors, expanding the board to 13 members. Ryan currently serves as director, president and CEO of Hillenbrand (NYSE: HI) since 2021.
Ryan brings extensive experience from her role at Hillenbrand and previous positions, including her tenure as president of Coperion from 2015 to 2021. She will serve on Timken's Compensation and Audit committees. The company, which reported $4.8 billion in sales in 2023 and employs 19,000 people across 45 countries, expects to benefit from Ryan's deep expertise in global manufacturing and business operations.
Positive
- Board expansion with experienced industrial sector executive
- Addition of expertise in global manufacturing and business operations
- Strong 2023 performance with $4.8 billion in sales
Negative
- None.
News Market Reaction – TKR
In the trading session that priced this news, TKR gained 1.12%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Ryan has served as director, president and CEO of Hillenbrand, Inc. (NYSE: HI; www.hillenbrand.com), a global industrial company that provides solutions for durable plastics, food and recycling and a variety of other applications, since 2021. From 2015 to 2021, she was president of the company's largest business, Coperion, a worldwide leader in compounding systems. Ryan started her career with Batesville, a former subsidiary of Hillenbrand, in 1989. She held roles of increasing responsibility within Batesville and Hill-Rom, a medical technology provider, in finance, strategy, operations, logistics, information technology and commercial division leadership prior to her current role.
"Kim's extensive experience across industrial sectors and as an executive leader will be an excellent addition to our Board," said John M. Timken, Jr., Chairman of the Board. "We welcome her deep expertise in global manufacturing and business operations and look forward to her valuable perspective as we work to accelerate profitable growth."
Ryan will serve as a member of the Board's Compensation and Audit committees. She holds a bachelor's degree in business administration and accounting from Iowa State University and serves on the National Association of Manufacturers Board of Directors and as a member of the Dean's Advisory Council at Iowa State University's Ivy School of Business.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) a global technology leader in engineered bearings and industrial motion, designs a growing portfolio of next-generation products for diverse industries. For more than 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. Timken posted
Media Relations:
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Investor Relations:
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234.262.2310
investors@timken.com
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SOURCE The Timken Company