Timken Names Michael A. Discenza Chief Financial Officer

Rhea-AI Summary

Timken (NYSE: TKR), a global engineered bearings and industrial motion technology company, has appointed Michael A. Discenza as its new Vice President and Chief Financial Officer, effective immediately. Discenza, a 25-year veteran of the company, previously served as vice president of finance and group controller for 10 years.

Discenza succeeds Philip D. Fracassa, who is departing to pursue other opportunities after nearly 12 years as CFO. The new CFO brings extensive experience in financial leadership, accounting, external reporting, and investor relations. Timken, which operates in 45 countries with approximately 19,000 employees, reported $4.6 billion in sales for 2024.

Positive

• Internal promotion demonstrates strong succession planning and organizational stability
• New CFO brings 25 years of company experience and deep institutional knowledge
• Company shows strong market presence with $4.6B in sales and operations in 45 countries

Negative

• Departure of experienced CFO Philip Fracassa after 12 years could create temporary transition challenges

NORTH CANTON, Ohio, Aug. 14, 2025 /PRNewswire/ -- The Timken Company (NYSE: TKR), a global technology leader in engineered bearings and industrial motion, today announced that its Board of Directors has appointed Michael A. Discenza vice president, chief financial officer and an officer of the company, effective immediately. Discenza has 25 years of experience at Timken in roles of increasing responsibility, including the last 10 as vice president, finance, and group controller.     

"Mike is an exceptional leader with strong financial expertise, strategic vision and a commitment to operational excellence," said Richard G. Kyle, president and CEO. "The Board and I are very confident in his ability to lead our global financial organization to drive Timken's growth and performance." 

Since joining the company in 2000, Discenza has progressed through a variety of financial and accounting leadership roles. A trusted partner to the executive leadership team, Discenza combines extensive industry knowledge with financial expertise to optimize the performance of the business. His experience also includes accounting and external reporting, financial planning and analysis, investor relations and advising the Board's audit committee. He holds bachelor's and master's degrees in economics from The University of Akron and is a certified management accountant.

Discenza succeeds Philip D. Fracassa, who is leaving Timken to pursue another opportunity. "We thank Phil for his many years of service and his nearly 12 years of leadership as chief financial officer," Kyle said. "We wish him the very best in his future endeavors."

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 $4.6 billion in sales in 2024 and employs approximately 19,000 people globally, operating from 45 countries.

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 the new CFO of Timken (NYSE: TKR)?

Michael A. Discenza has been appointed as Timken's new CFO, effective immediately. He previously served as vice president of finance and group controller.

What is Michael Discenza's experience at Timken (TKR)?

Discenza has 25 years of experience at Timken, including 10 years as vice president of finance and group controller, with expertise in accounting, financial planning, and investor relations.

Who did Michael Discenza replace as Timken's CFO?

Discenza replaced Philip D. Fracassa, who served as Timken's CFO for nearly 12 years and is leaving to pursue another opportunity.

What were Timken's (TKR) sales in 2024?

Timken reported $4.6 billion in sales for 2024, operating across 45 countries with approximately 19,000 employees globally.

What is Timken's (TKR) main business?

Timken is a global technology leader in engineered bearings and industrial motion, designing next-generation products for diverse industries with over 125 years of specialized expertise.