Team NEO Appoints Timken Company Executive to Its Board of Directors

Philip D. Fracassa joins organization’s BoardPhilip D. Fracassa

Cleveland, Ohio – February 21, 2018 — The Board of Directors of Team Northeast Ohio (Team NEO) has appointed Philip D. Fracassa, executive vice president and chief financial officer of The Timken Company, to the organization’s Board. He joins a group of regional business leaders dedicated to advancing Northeast Ohio’s economy.

Fracassa leads the Timken finance organization, and oversees information technology and enterprise shared services for the organization.

“We are delighted to welcome Phil to our Board,” said Team NEO CEO Bill Koehler. “He has an understanding of the region’s economic development system through his past involvement with the Canton Regional Chamber of Commerce. Phil also brings great insights in finance, manufacturing, technology and international business and knows the value of innovation in driving economic growth.”

“We are grateful to have the support of Phil,” said Team NEO Board Chairman Robert C. Smith. “His skills and commitment to Northeast Ohio, as well as The Timken Company’s long history of investing in our region, make him an ideal Board member and an important voice to have at our table.”

About Philip D. Fracassa

Philip D. Fracassa serves as executive vice president and chief financial officer of The Timken Company.

Named to his position in 2014, Phil leads the Timken finance organization, including external reporting, treasury, tax, financial planning and analysis, internal audit, risk management and investor relations. In addition, he oversees information technology and enterprise shared services.

In 2012, Phil served as senior vice president for corporate planning and development. He was responsible for leading the development of enterprise-wide strategy, including the evaluation and execution of inorganic growth initiatives. He also led the project to spin off the steel business from The Timken Company, which was completed in June 2014.

Phil joined Timken in 2005 and has held several key finance positions, including senior vice president and group controller, and senior vice president of tax and treasury.

Prior to joining Timken, he was director of taxes for Visteon Corp. He began his career with Price Waterhouse in Detroit and served as a tax attorney with General Motors.

Currently, Phil is a member of Financial Executives International and the Manufacturers Alliance for Productivity and Innovation (MAPI). He was included in Treasury & Risk magazine’s lists of 40 distinguished finance executives under the age of 40 (2007) and top 100 most influential persons in finance (2009). He sits on the Regional Advisory Board for FM Global, a world leader in commercial and industrial property insurance and loss prevention engineering. He serves on the Board of Directors for the American Red Cross – Northeast Ohio Region.

A native of Detroit, Michigan, Phil holds a bachelor’s degree in accounting and a juris doctor degree in law from the University of Detroit Mercy. In 2011, he completed the Advanced Management Programme at INSEAD in France. He is a certified public accountant and licensed attorney in the state of Michigan.

About Team NEO

Team NEO is an economic development organization focused on creating jobs for Northeast Ohio’s residents. In collaboration with our partners, it leads the region’s business attraction efforts, supports business retention and expansion work as Northeast Ohio’s JobsOhio affiliate, accelerates the impact of innovation in the region, and aligns strategies and resources within the economic development network to maximize its impact. In addition, Team NEO provides tools to assist employers in attracting talent to the region. For more information, visit