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Goodyear CEO Mark Stewart Steps Down Effective Immediately as Roger Wood Named Interim Chief Executive
The tire maker said it will keep pursuing a turnaround plan after third-quarter net sales fell 2.3% and it posted a $31 million adjusted net loss.
- On Monday, Goodyear Tire & Rubber Company announced CEO Mark Stewart is stepping down immediately, with board member Roger Wood assuming the interim CEO role while the company searches for a permanent successor.
- The leadership change follows disappointing third-quarter results released November 4, which showed net sales of $4.5 billion, down 2.3% year over year, and an adjusted net loss of $31 million.
- Goodyear established an Enterprise Transformation Office to identify operational opportunities, with the board evaluating the company's business mix and manufacturing footprint to improve efficiency and shareholder value.
- Shares of Goodyear fell roughly 4% in early trading Monday, while Wood stated his immediate priorities include supporting associates and customers to "advance Goodyear's transformation."
- Wood brings over three decades of automotive industry experience, including previous roles as CEO of Dana Holding Corporation and co-CEO of Tenneco Inc., providing deep operational expertise to the interim position.
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Goodyear Tire & Rubber is separating from its director-president, Mark Stewart, in the midst of efforts to strengthen the tire manufacturer's business. Goodyear informed on Monday (9) that Stewart left the positions of director-president and president, in addition to his seat on the company's board of directors, with immediate effect. Exclusive material for subscribers. To have full access, access the link of the subject and register.
·Rio de Janeiro, Brazil
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Coverage Details
Total News Sources15
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
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