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Goodyear Tire and Rubber Company reportedly hired a new chief executive officer to lead the company. The tire manufacturer headquartered in Akron, Ohio, was said to have recruited Mark Stewart, a former executive at Stellantis N.V., a car manufacturing company.
According to Reuters, Goodyear Tire's search for a new chief has nothing to do with the settlement with shareholder activist Investment Management L.P. It was added that the decision was not influenced by the said activist's campaign in any way.
Announcement of New CEO
There are no words or notice yet from Goodyear Tire & Rubber Co. regarding the reported appointment of Stewart as the new leader who will supposedly take over the CEO role from Richard J. Kramer, who has been in the position since 2010.
In any case, Bloomberg reported that the company is expected to announce the arrival of Stewart to replace Kramer as soon as this week. Since the company has not yet commented on this matter, the details were shared by sources familiar with the decision.
Kramer's Retirement
Kramer is leaving the chief executive role he has held for 14 years. He is vacating his office as he decided to retire this year. The 60-year-old already announced his planned departure last year, so it is not a surprising move.
Meanwhile, Stellantis also made an announcement this week regarding Stewart's departure. The automaker appointed Carlos Zarlenga as the new CEO of its North American operations, replacing the outgoing executive.
The new chief of Goodyear Tires hails from Alabama, and before his stint at Stellantis, he worked for Amazon Inc. and ZF Friedrichshafen AG. He joined the automaker's firm when it was still known as Fiat Chrysler.
