Goodyear Gets New CEO

Richard J. Kramer becomes new chief executive.

The Goodyear Tire & Rubber Co. announced on Feb. 25 announced that Richard J. Kramer was elected chief executive officer and president effective April 13, 2010, replacing Robert J. Keegan who will remain as executive chairman of the board. Kramer was also elected a member of the companys board of directors.

Kramer, 46, who was named chief operating officer in June 2009, spent the previous three years successfully leading the company's North American Tire business with a focus on customers and new product and process innovation. Prior to his North America assignment, he spent three years as executive vice president and chief financial officer. Kramer joined Goodyear as vice president of corporate finance in 2000. He was named senior vice president of strategy in 2003 where he began developing Goodyear's strategy.

"Thanks to Bob's leadership, our customers and the world see a new Goodyear -- one that is more innovative, more agile, and more customer-focused than ever. We have the opportunity to build on that, particularly as the global economy begins to recover," said Kramer. "I am honored that Bob and the board have the confidence in me to oversee one of the most recognizable and trusted brands in the world. At the same time I am excited about the opportunities the global tire industry is presenting us. Goodyear is well positioned to take advantage of those opportunities."

Goodyear, one of the world's largest tire companies, employs approximately 69,000 people and manufactures its products in more than 57 facilities in 23 countries around the world.

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