Tarak

ABB Ltd: Q1 2024 results

Retrieved on: 
Friday, May 3, 2024
Tarak, Automation, Way, Robotics, Software, Engineering, Acquisition, EPS, GHG, Business process automation, Share repurchase, TNT, Human, ABB, Growth

For a reconciliation of non-GAAP measures, see “supplemental reconciliations and definitions” in the attached Q1 2024 Financial Information.

Key Points: 
  • For a reconciliation of non-GAAP measures, see “supplemental reconciliations and definitions” in the attached Q1 2024 Financial Information.
  • “Against high comparables, our Q1 performance shows the year has started off well with stronger than expected order momentum, record-high margin and strong cash delivery.
  • The size of the program is consistent with last year’s, although the time frame for execution is shorter as it runs until the end of January 2025, to align with the announcement of Q4 2024 results and 2024 dividend proposal.
  • In the second quarter of 2024, we anticipate a mid-single-digit comparable revenue growth year-on-year and the Operational EBITA margin to be slightly higher than in the first quarter 2024.

ABB Ltd: Tarak Mehta to leave ABB

Retrieved on: 
Wednesday, April 10, 2024
Tarak, Automation, Central business district, Software, Engineering, ABB, Executive Committee, Management

ABB announced today that Tarak Mehta, President Motion Business Area and Member of the Executive Committee, has decided to leave ABB since he has accepted the role as CEO of another company.

Key Points: 
  • ABB announced today that Tarak Mehta, President Motion Business Area and Member of the Executive Committee, has decided to leave ABB since he has accepted the role as CEO of another company.
  • Tarak will leave ABB at the end of July this year.
  • Tarak joined ABB in 1998 and has since then held a number of positions of increasing responsibility in the United States, Sweden and Switzerland.
  • I wish the ABB team a continued bright future,” said Tarak Mehta.

The Timken Company Announces CEO Succession Plan

Retrieved on: 
Wednesday, March 27, 2024
Automation, Growth, ABB, Tarak, Motion, Mehta, TKR, Retirement, Rich, Timken Company, Management

NORTH CANTON, Ohio, March 27, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) Board of Directors has reached an agreement with Tarak Mehta to become Timken's next president and chief executive officer on Sept. 5, 2024. Mehta is currently president of the Motion business and member of the Group Executive Committee at ABB Ltd., a $32 billion leader in electrification and automation. Mehta will be appointed Timken president and CEO after he completes a transition period with ABB.

Key Points: 
  • Mehta will be appointed Timken president and CEO after he completes a transition period with ABB.
  • Kyle plans to retire as an employee of Timken following a decade of leadership as CEO but will continue to serve on the Timken Board of Directors.
  • "Today's announcement is the result of a leadership succession plan and follows a comprehensive CEO selection process led by the Board," said Timken Chairman, John M. Timken, Jr. "Bringing on a seasoned industry executive like Tarak as CEO underscores the Board's commitment to advancing Timken's industrial diversification strategy.
  • "Timken stands stronger today than at any time in our 125-year history, reflecting Rich's leadership and stewardship as CEO.