CANTON, Ohio, Sept. 21, 2018 /PRNewswire/ -- TimkenSteel
Corporation (NYSE: TMST, timkensteel.com) has named Kristopher R. Westbrooks as executive vice
president and chief financial officer to succeed current CFO
Christopher J. Holding, who is
leaving the company, effective September 23,
2018. Westbrooks will join the company in this new role on
September 24, 2018.
Westbrooks was most recently with A. Schulman, Inc., where he
served as vice president, chief accounting officer and corporate
controller responsible for leading the integration of
A. Schulman's recently completed merger with
LyondellBasell.
"Kris brings deep financial and accounting experience to
TimkenSteel and will help accelerate our efforts to generate more
profitable growth and drive greater shareholder value," said
Tim Timken, chairman, CEO and
president. "I'd like to extend my thanks to Chris Holding for his contributions in launching
TimkenSteel as a public company and building a strong finance team
here."
Westbrooks had been with A. Schulman, an international supplier
of high-performance plastic formulations, resins, and services,
since 2011. Prior to joining A. Schulman, he served as global
accounting consultation manager and senior financial analyst for
The Procter & Gamble Company, a multinational manufacturer
of consumer goods. He began his career at PwC after earning
his bachelor's and master's degrees in accountancy at Miami University.
About TimkenSteel Corporation
TimkenSteel (NYSE:TMST,
timkensteel.com) creates tailored steel products and services for
demanding applications, helping customers push the bounds of what's
possible within their industries. The company reaches around the
world in its customers' products and leads North America in large alloy steel bars (up to
16 inches in diameter) and seamless mechanical tubing made of its
special bar quality (SBQ) steel, as well as supply chain and steel
services. TimkenSteel operates warehouses and sales offices in five
countries and has made its steel in America for more than 100
years. The company posted sales of $1.3
billion in 2017. Follow us on Twitter @TimkenSteel and on
Instagram.
FORWARD-LOOKING STATEMENTS
This news release
includes "forward-looking" statements within the meaning of the
federal securities laws. You can generally identify the company's
forward-looking statements by words such as "anticipate,"
"believe," "could," "estimate," "expect," "forecast," "outlook,"
"intend," "may," "possible," "potential," "predict," "project,"
"seek," "target," "could," "may," "should" or "would" or other
similar words, phrases or expressions that convey the uncertainty
of future events or outcomes. The company cautions readers that
actual results may differ materially from those expressed or
implied in forward-looking statements made by or on behalf of the
company due to a variety of factors, such as: deterioration in
world economic conditions, or in economic conditions in any of the
geographic regions in which the company conducts business,
including additional adverse effects from global economic slowdown,
terrorism or hostilities, political risks associated with the
potential instability of governments and legal systems in countries
in which the company or its customers conduct business, and changes
in currency valuations; the effects of fluctuations in customer
demand on sales, product mix and prices in the industries in which
the company operates, including the ability of the company to
respond to rapid changes in customer demand, the effects of
customer bankruptcies or liquidations, the impact of changes in
industrial business cycles, and whether conditions of fair trade
exist in U.S. markets; competitive factors, including changes in
market penetration, increasing price competition by existing or new
foreign and domestic competitors, the introduction of new products
by existing and new competitors, and new technology that may impact
the way the company's products are sold or distributed; changes in
operating costs, including the effect of changes in the company's
manufacturing processes, changes in costs associated with varying
levels of operations and manufacturing capacity, availability of
raw materials and energy, the company's ability to mitigate the
impact of fluctuations in raw materials and energy costs and the
effectiveness of its surcharge mechanism, changes in the expected
costs associated with product warranty claims, changes resulting
from inventory management, cost reduction initiatives and different
levels of customer demands, the effects of unplanned work
stoppages, and changes in the cost of labor and benefits; the
success of the company's operating plans, announced programs,
initiatives and capital investments (including the jumbo bloom
vertical caster and advanced quench and-temper facility), the
ability to integrate acquired companies, the ability of acquired
companies to achieve satisfactory operating results, including
results being accretive to earnings, and the company's ability to
maintain appropriate relations with unions that represent its
associates in certain locations in order to avoid disruptions of
business; unanticipated litigation, claims or assessments,
including claims or problems related to intellectual property,
product liability or warranty, and environmental issues and taxes,
among other matters; the availability of financing and interest
rates, which affect the company's cost of funds and/or ability to
raise capital, the company's pension obligations and investment
performance, and/or customer demand and the ability of customers to
obtain financing to purchase the company's products or equipment
that contain its products; the amount of any dividend declared by
the company's Board of Directors on the company's common shares;
and the overall impact of mark-to-market accounting. Additional
risks relating to the company's business, the industries in which
the company operates or the company's common shares may be
described from time to time in the company's filings with the SEC.
All of these risk factors are difficult to predict, are subject to
material uncertainties that may affect actual results and may be
beyond the company's control. Readers are cautioned that it is not
possible to predict or identify all of the risks, uncertainties and
other factors that may affect future results and that the above
list should not be considered to be a complete list. Except as
required by the federal securities laws, the company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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SOURCE TimkenSteel Corporation