The Goodyear Tire & Rubber Company (NASDAQ: GT) has announced that Mark Stewart has been elected chief executive officer and president, effective Jan. 29. He will succeed Richard J. Kramer, who previously announced his planned retirement from the company following 24 years of service, including 14 as chairman, CEO and president.
Stewart joins Goodyear from global automaker Stellantis, where he served as chief operating officer (COO) of North America and a member of the group executive council.
“I am honored and humbled to join Goodyear at such a pivotal time in its history. I have deep respect and admiration for everything Rich and the Goodyear team have accomplished together,” Stewart said. “Goodyear is an iconic company with an unmatched brand, industry-leading innovation and significant opportunity for growth. I look forward to working alongside the talented team around the globe as we drive sustainable and substantial value together.”
At the same time, Laurette T. Koellner, independent lead director of Goodyear’s board since 2019, will become non-executive board chair, and Stewart will be added to the Goodyear board as a director.
“The Board is confident Mark is the ideal CEO for Goodyear as we continue executing against the Goodyear Forward plan. Mark is a seasoned automotive executive and proven operator, with a track record of driving innovation and commercial excellence,” Koellner said.
Koellner also credited Kramer with demonstrating “unwavering dedication” to Goodyear, its customers and associates.
“This commitment continued in full force following his notification to the board of his planned retirement and is evidenced by the continued advancement of our business models and creation of clear competitive advantages over the last couple of years, as well as leading our strategic and operational review to set the company up for future success,” Koellner said.
Kramer called leading Goodyear “an honor and privilege” and said he looked forward to working with Stewart through the transition.
