Goodyear’s Keegan to Retire; Kramer Elected Chairman

With his retirement plans now finalised, Robert J. Keegan has expressed confidence in handing over the role of chairman of Goodyear’s board to the company’s president and chief executive officer, Richard J. Kramer. The Goodyear board of director’s election of Kramer to the position was announced on August 3 and will take effect October 1. Keegan is stepping down both as chairman and a director and will retire from the company.

“I can retire with confidence, knowing that Goodyear is in good hands,” said Keegan. “Rich has clearly demonstrated his ability to lead the company into the future.” Kramer succeeded Keegan as Goodyear’s president and CEO on April 13.  Since joining the tyre maker in 2000, he has served in a number of positions, including vice president of corporate finance, senior vice president of strategy, chief financial officer, president of North American Tire and chief operating officer. 

“This is the next step and a natural evolution of the well-thought-out and orderly succession plan,” said Goodyear’s lead director James C. Boland.  “Bob Keegan agreed to stay on as executive chairman earlier this year to assist with the transition.  Both Bob and the board felt that the time is right to complete the process.”

Keegan, 63, also joined Goodyear in 2000, as chief operating officer. He became president and chief executive officer in January 2003 and chairman of the board in July of that same year.