Goodyear Proxy: Top Execs Got $31 Million

(Akron/Tire Review) The company’s climbing stock prices helped boost compensation packages for Goodyear Tire & Rubber Co.’s five top executives to some $31.3 million. The compensation package amounts was revealed in Goodyear’s proxy statement, filed last week with the Securities and Exchange Commission.

Included in that group of executives was chairman, president and CEO Bob Keegan, whose 2006 compensation package included $3.3 million in salary and bonuses, plus incentive compensation tied to Goodyear’s stock performance from 2004 through 2006.

As with most publicly traded companies, Goodyear’s executive compensation is established by the board of directors.

The other top executives include Richard Kramer, executive vice president and CFO; Jon Rich, president of the North American Tire division, C. Thomas Harvie, senior vice president, general counsel and secretary; and Joseph Gingo, executive vice president of quality systems and chief technical officer.