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Goodyear Names Mark Stewart as New CEO, Plans Strategic Overhaul

Stewart's appointment follows a significant loss in 2023. His history of driving innovation and commercial success signals a new era for Goodyear.

This is a presentation and here we can see vehicles on the road and we can see some text written.
This is a presentation and here we can see vehicles on the road and we can see some text written.

Goodyear Names Mark Stewart as New CEO, Plans Strategic Overhaul

Goodyear Tire & Rubber Co. has appointed Mark Stewart as its new CEO, effective January 29. Stewart will also serve as a director on the company's board. Laurette Koellner will replace Richard Kramer as the chair of the board.

Stewart brings extensive experience in the tire and automotive industry to his new role. Before joining Goodyear, he held executive positions at Stellantis and ZF TRW Automotive, where he drove innovation and commercial excellence. Notably, he led electrification efforts at Stellantis.

Goodyear plans a strategic overhaul under Stewart's leadership. The company aims to double the operating margin of its tire business and boost its annual run rate by $1.3 billion by the end of 2025. To achieve this, Goodyear will raise more than $2 billion through a strategic review of its Dunlop brand, chemical and off-road tire businesses. Stewart's appointment follows the retirement of outgoing CEO and Chair Richard Kramer, who stepped down in November after nearly a decade at the helm.

Mark Stewart takes over as Goodyear's CEO on January 29, tasked with returning the company to profitability after a significant loss in 2023. With a history of driving innovation and commercial success, Stewart is expected to lead Goodyear's strategic revamp and improve its financial performance.

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