Tim Timken Steps Down as TimkenSteel President and CEO
By Metal Center News Staff
on Oct 13, 2019
Ward J. “Tim” Timken has stepped down as president, CEO and chairman of the Canton, Ohio-based steelmaker. Terry L. Dunlap has been appointed interim president and CEO and John P. Reilly, lead director of the board, will assume the role of chairman.
"In an effort to revitalize both the near-term performance and long-term potential of TimkenSteel, now is the time for new leadership at the company. While stepping down as CEO is not an easy decision, it has been a true privilege for me to lead TimkenSteel on its journey as an independent public company," said Tim Timken.
Dunlap has been a director of TimkenSteel since August 2015 and has served on the audit committee and compensation committee of the board of directors. He spent 31 years with Allegheny Technologies Inc., a global leader in specialty metals, most recently as executive vice president of ATI's flat-rolled products group.
"I look forward to leading TimkenSteel and improving shareholder value by engaging with customers, suppliers and employees to improve operating performance and deliver consistent profitable growth at the company," said Dunlap. "TimkenSteel has a strong portfolio of operating assets, high-quality products, and a dedicated and talented workforce."
Reilly is a founding member of TimkenSteel's board of directors since the company's spinoff in 2014. Reilly has served as CEO of several companies.