Kramer Named Goodyear COO

Goodyear Tire & Rubber’s Board of Directors has elected Richard J. Kramer chief operating officer of the company. In this new role, which takes effect immediately, Kramer will report to company chairman and CEO Robert J. Keegan. Kramer will also continue in his current position as president of the company’s North American Tire business until his successor is named.

“Rich’s appointment as chief operating officer reflects our game plan of having a laser focus on operations globally during these extraordinary times,” Keegan said. “It also reflects the confidence that the Board and I have in Rich’s overall business leadership capability.

Kramer, 45, joined Goodyear as vice president of corporate finance in 2000 after 13 years with PricewaterhouseCoopers, where he served in a variety of roles in the United States and Europe. In 2004 he was elected executive vice president and chief financial officer, and began his current position with the North American Tire business in March 2007. North American Tire is the company’s largest business unit, with 2008 sales of US$8.3 billion – 42 per cent of the company’s $19.5 billion in annual sales.

“Rich brings enormous credibility and respect from all key constituents, our associates, our customers and Wall Street,” Keegan added. “Under Rich’s leadership in North American Tire, his team has successfully managed the business to deal swiftly and effectively with the current challenging economic environment.

“We are pleased to have a business leader of Rich’s calibre ready to step into this important role at this critical time. Rich has generated improved results and built improved leadership teams in every assignment at Goodyear,” Keegan concluded.