Timken appoints Lucian Boldea as president and CEO

NORTH CANTON, Ohio - The Timken Company (NYSE:TKR), a $5.5 billion market cap industrial manufacturer currently trading near its InvestingPro Fair Value, announced Monday that Lucian Boldea will become its new president and chief executive officer effective September 1, 2025. Boldea will also join the company’s Board of Directors, replacing Richard G. Kyle, who has been serving in an interim capacity since March.

Boldea comes to Timken from Honeywell, where he served as President and CEO of the Industrial Automation segment, a global business with over $10 billion in sales and 31,000 employees. He brings more than 25 years of industry experience to the role. According to InvestingPro data, he will lead a company with strong financial health metrics, including a healthy current ratio of 3.13 and consistent profitability over the last twelve months.

"Following a comprehensive search, the Board is confident that Lucian is the right leader to continue to advance Timken’s strategy," said John Timken, chairman of the Board, in a press release statement.

Prior to joining Honeywell in 2022, Boldea spent over two decades at Eastman Chemical Company in various leadership positions. He holds a Ph.D. in organic chemistry from the University of Florida, an MBA from the Wharton School, and serves on the Board of Directors of the U.S.-China Business Council.

Boldea will be based at Timken’s headquarters in North Canton, Ohio. The company, which manufactures engineered bearings and industrial motion products, reported $4.6 billion in sales in 2024 and employs approximately 19,000 people across 45 countries.

The leadership change comes five months after Kyle stepped into the interim role following his previous tenure as president and CEO from 2014 to 2024.

In other recent news, The Timken Company reported its second-quarter 2025 earnings, surpassing analyst expectations with an adjusted EPS of $1.42 compared to the forecast of $1.37. The company also reported revenue of $1.17 billion, exceeding expectations despite a slight year-over-year decline. Timken maintains a cautious outlook for 2025, projecting a revenue decline of approximately 1% and EPS guidance between $5.10 and $5.40. Additionally, Timken announced the appointment of Michael A. Discenza as vice president and chief financial officer, effective immediately. Discenza, who has been with the company for 25 years, succeeds Philip D. Fracassa. In other developments, Timken declared a quarterly cash dividend of 35 cents per share, payable on August 29, 2025, to shareholders of record as of August 19, 2025. These recent developments highlight Timken’s ongoing financial strategies and leadership transitions.

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