Glenn A. Eisenberg, executive VP of finance and administration and CFO, plans to leave The Timken Company next year when it separates the steel business from its bearings and power transmission (B&PT) business. Philip D. Fracassa and Christopher J. Holding will take charge as the CFOs of the two independent publicly traded companies.
Until Fracassa becomes the CFO of the USD 3.4B global bearings and power transmission-focused Timken Company, he will continue to lead planning and development at Timken and assumes new responsibility for overseeing the project management office charged with facilitating the split of the two businesses. Christopher A. Coughlin, group president responsible for mobile and process industries; William R. Burkhart, senior VP and general counsel; and J. Ted Mihaila, senior VP and controller, will continue in their roles at The Timken Company beyond the separation.
Once Holding takes charge as the CFO, Donald L. Walker will become senior VP of human resources of the new USD 1.7B engineered steel company. Until then, Holding continues to lead tax and treasury and Walker retains his same role within The Timken Company.
Eisenberg remains in his current position at Timken until the separation is complete, at which time he plans to leave after 12 years of service.
