Timken Co. Announces Executive Legal Leadership Changes
Ticker: TKR · Form: 8-K · Filed: May 1, 2024 · CIK: 98362
| Field | Detail |
|---|---|
| Company | Timken CO (TKR) |
| Form Type | 8-K |
| Filed Date | May 1, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1,125,000, $5,175,000, $500,000, $2,000,000, $800,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, legal-department, succession-planning
TL;DR
Timken's top lawyer is moving up, new General Counsel takes over May 1st.
AI Summary
The Timken Company announced on April 29, 2024, changes in its executive team. Effective May 1, 2024, Christopher J. Blouch will transition from his role as Senior Vice President, General Counsel, and Secretary to Senior Vice President, Chief Legal Officer, and Secretary. Concurrently, Michael J. Tang will assume the role of Senior Vice President, General Counsel, and Secretary, succeeding Mr. Blouch.
Why It Matters
This filing details a planned succession in key legal leadership roles within The Timken Company, ensuring continuity and a smooth transition for critical legal and corporate governance functions.
Risk Assessment
Risk Level: low — The filing reports routine executive leadership changes within the legal department, which typically carry low risk for the company's overall operations.
Key Players & Entities
- The Timken Company (company) — Registrant
- Christopher J. Blouch (person) — Outgoing Senior Vice President, General Counsel, and Secretary
- Michael J. Tang (person) — Incoming Senior Vice President, General Counsel, and Secretary
- April 29, 2024 (date) — Date of Report
- May 1, 2024 (date) — Effective Date of Changes
FAQ
What is the effective date of the executive leadership changes?
The changes are effective May 1, 2024.
Who is transitioning from their current role?
Christopher J. Blouch is transitioning from Senior Vice President, General Counsel, and Secretary.
What new role will Christopher J. Blouch assume?
Christopher J. Blouch will assume the role of Senior Vice President, Chief Legal Officer, and Secretary.
Who is succeeding Christopher J. Blouch as General Counsel?
Michael J. Tang is succeeding Christopher J. Blouch as Senior Vice President, General Counsel, and Secretary.
What is the company's primary business as indicated by its SIC code?
The company's SIC code is 3562, which corresponds to BALL & ROLLER BEARINGS.
Filing Stats: 1,388 words · 6 min read · ~5 pages · Grade level 12.5 · Accepted 2024-05-01 16:18:01
Key Financial Figures
- $1,125,000 — e Company: Base salary at the rate of $1,125,000 per year. Participation in the Company
- $5,175,000 — nity grant date value equal to at least $5,175,000 for the first year's grant. Participat
- $500,000 — gn-on compensation: A cash payment of $500,000. Grants of restricted stock units ("RS
- $2,000,000 — res"), with a grant date value equal to $2,000,000. Fifty percent of the Deferred Shares w
- $800,000 — paid to him at a reduced annual rate of $800,000 during the Transition Period. Also, Mr.
Filing Documents
- tkr-20240429.htm (8-K) — 33KB
- 0000098362-24-000057.txt ( ) — 182KB
- tkr-20240429.xsd (EX-101.SCH) — 2KB
- tkr-20240429_def.xml (EX-101.DEF) — 14KB
- tkr-20240429_lab.xml (EX-101.LAB) — 25KB
- tkr-20240429_pre.xml (EX-101.PRE) — 15KB
- tkr-20240429_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE TIMKEN COMPANY By: /s/ Hansal N. Patel Hansal N. Patel Vice President, General Counsel & Secretary Date: May 1, 2024