Timken Adds Todd Leombruno, Parker Hannifin Executive VP and CFO, to its Board of Directors

Rhea-AI Summary

The Timken Company (NYSE: TKR), a global leader in engineered bearings and industrial motion, has appointed Todd M. Leombruno to its Board of Directors. Leombruno, currently serving as executive vice president and CFO of Parker Hannifin Corp., brings over 30 years of experience in accounting and finance roles. This addition expands Timken's board to 11 members.

Leombruno will serve on the Board's Audit and Nominating and Corporate Governance committees. His appointment is expected to contribute significant financial and executive leadership skills, as well as deep knowledge of industrial markets and manufacturing sectors. Timken, which posted $4.8 billion in sales in 2023, employs more than 19,000 people globally and operates in 45 countries.

Positive

• Appointment of Todd Leombruno, an experienced financial executive, to the Board of Directors
• Expansion of the Board to 11 members, potentially bringing more diverse perspectives
• Leombruno's extensive experience in industrial markets aligns with Timken's business focus
• Strong financial performance with $4.8 billion in sales reported for 2023
• Global presence with operations in 45 countries and over 19,000 employees

Negative

• None.

NORTH CANTON, Ohio, Aug. 7, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, today announced the appointment of Todd M. Leombruno to its Board of Directors. The election will bring The Timken Company Board to 11 members.

Leombruno has served as executive vice president and chief financial officer of Parker Hannifin Corp., a Fortune 250 global leader in motion and control technologies, since 2021. He started his career with Parker Hannifin in 1993 and progressed through various accounting and finance roles of increasing responsibility during his more than 30-year career with the company.

"Todd brings significant financial and executive leadership skills to our Board," said John M. Timken, Jr., Chairman of the Board. "His deep knowledge of industrial markets and experience in the manufacturing and engineering sectors will be a great asset as we continue to advance our strategy. We welcome Todd and look forward to his contributions as we build on our global leadership in engineered bearings and industrial motion." 

Leombruno will serve as a member of the Board's Audit and Nominating and Corporate Governance committees. He holds a bachelor's degree in business administration from Ohio University and an MBA from Case Western Reserve University.

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 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. The company posted $4.8 billion in sales in 2023 and employs more than 19,000 people globally, operating from 45 countries. Timken is one of the World's Most Innovative Companies, according to Fast Company, and has been recognized among America's Most Responsible Companies, America's Greatest Workplaces and America's Greatest Workplaces for Diversity by Newsweek, Best Companies to Work For by U.S. News & World Report, the World's Most Ethical Companies^® by Ethisphere and America's Most Innovative Companies by Fortune.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

Investor Relations:
Neil Frohnapple
234.262.2310
investors@timken.com 

 

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SOURCE The Timken Company

FAQ

Who is Todd Leombruno and why was he appointed to Timken's (TKR) Board of Directors?

Todd Leombruno is the executive VP and CFO of Parker Hannifin Corp. He was appointed to Timken's Board on August 7, 2024, due to his significant financial and executive leadership skills, as well as his deep knowledge of industrial markets and experience in manufacturing sectors.

What committees will Todd Leombruno serve on in Timken's (TKR) Board?

Todd Leombruno will serve as a member of Timken's Board's Audit and Nominating and Corporate Governance committees.

What was Timken's (TKR) reported sales figure for 2023?

Timken reported sales of $4.8 billion for the year 2023.

How many countries does Timken (TKR) operate in as of August 2024?

As of August 2024, Timken operates in 45 countries globally.