Timken Company Announces New CFO Michael A. Discenza, Replacing Philip D. Fracassa

The Timken Company has appointed Michael A. Discenza as vice president, chief financial officer, effective August 14, 2025. Discenza has 25 years of experience at Timken and will succeed Philip D. Fracassa, who is leaving to pursue another opportunity. Discenza combines industry knowledge with financial expertise and has experience in accounting, financial planning, investor relations, and advising the Board's audit committee.

The Timken Company (NYSE:TKR), a global leader in engineered bearings and industrial motion, has appointed Michael A. Discenza as vice president, chief financial officer, effective immediately [1]. Discenza, who has been with the company for 25 years, will succeed Philip D. Fracassa, who is leaving to pursue another opportunity [1].

Michael A. Discenza brings extensive industry knowledge and financial expertise to the role. He has held various financial and accounting leadership positions at Timken, including vice president, finance, and group controller for the past decade [1]. His experience spans accounting, external reporting, financial planning and analysis, and investor relations [1]. Additionally, he serves as an advisor to the Board's audit committee [1].

Timken, currently valued at $5.6 billion, reported $4.6 billion in sales in 2024 and employs approximately 19,000 people globally [1]. The company has maintained dividend payments for 55 consecutive years and declared a quarterly cash dividend of 35 cents per share, payable on August 29, 2025 [2]. The appointment of Discenza comes at a time when Timken has strong liquidity, with a current ratio of 3.13 [1].

During his tenure, Discenza has contributed to Timken's financial stability and growth. He played a significant role in the company's recent earnings report, where Timken surpassed analyst expectations with an adjusted EPS of $1.42 for the second quarter of 2025 [1]. The company's revenue reached $1.17 billion, although it was slightly down from the previous year [1].

The appointment of Michael A. Discenza as CFO reflects Timken's commitment to operational excellence and strategic vision. His experience and leadership will be crucial in navigating the company's financial landscape and supporting its long-term growth objectives.

References:
[1] https://www.investing.com/news/company-news/timken-appoints-michael-a-discenza-as-new-chief-financial-officer-93CH-4191612
[2] https://finance.yahoo.com/news/timken-nyse-tkr-pay-dividend-104149640.html