Timken appoints Lucian Boldea as President & CEO effective Sept 1, 2025

TIMKEN CO

Lucian Boldea, 54, previously led Honeywell's Industrial Automation segment since Jan 2024, will become President & CEO.
Richard G. Kyle retires as interim CEO but stays as Advisor to the CEO until Nov 14, 2025; remains a Director.
Boldea receives base salary of $1.1M/yr, target STI of 125%, and initial LTI target of at least $6,037,500.
Sign-on package: $1.5M cash, $6.0375M RSUs (60% performance-based, 40% time-based), and $7M special grant vesting over 3 years.
Board expands from 12 to 13; Boldea appointed Director effective Sept 1, 2025.

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