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Aug. 7, 2012 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) today announced that
Christopher A. Coughlin and
Richard G. Kyle have been named to the newly created positions of group presidents. In these roles, Coughlin and Kyle will be responsible for all activities related to the company's four business segments.
In making the announcement, James W. Griffith, president and CEO for Timken, explained that effective
Sept. 1, Coughlin assumes leadership of the company's
Mobile and Process Industries segments while Kyle takes the helm of the Aerospace and Steel segments. Each also will hold corporate-wide responsibilities, with quality assurance and advancement activities reporting to Coughlin and Kyle overseeing the enterprise's innovation, engineering and technology efforts. They will continue to report to Griffith.
The company also announced that
Salvatore J. Miraglia, president of the Steel Business, intends to retire at the end of the year, after more than 40 years of service with the company.
"We appreciate the many contributions Sal has made to the company with his rare blend of technology, operations and supply chain expertise," said Griffith. "Now, as the company continues to evolve and grow, we have an opportunity to further leverage and elevate the talent resident in our executive ranks.
"The company's performance in recent years demonstrates the potential of our strategy to grow in markets where our knowledge allows us to create unique value for our customers," said Griffith. "The new roles position Rich and Chris to accelerate the growth of the company and to ensure that we continue to develop the capabilities that fuel this success. Their track records underscore their leadership excellence, and these appointments afford another opportunity for us to further strengthen the company and its long-term earnings power."