Goodyear has “positive momentum”: Kramer
In his address at The Goodyear Tire & Rubber Company’s Annual Shareholder Meeting today, chairman and chief executive officer Richard J. Kramer said he is confident in Goodyear’s strategy and believes the company is well positioned to achieve its goals, having been pleased with Goodyear’s 2010 performance, which exceeded the company’s targets. The company’s financial results reflected significant improvement in all four regional tyre businesses, most notably North American Tire’s return to profitability, he said.
Kramer highlighted the price/mix improvements that offset the impact of higher raw material costs; the high percentage of new products in the company’s overall lineup; cost actions and fixed cost recovery that flowed to the company’s bottom line; and significant investments in the company’s future growth in targeted market segments. These accomplishments, Kramer said, “are evidence of our positive momentum and give us confidence that, in 2011, we will continue to strengthen our leadership position in the industry.”
“As confident as I am in our strategies and plans, there’s a critical element that brings them to life. That’s our team. From management to the shop floor, the men and women around the world who represent The Goodyear Tire & Rubber Company form the best team in the industry,” Kramer added. “Our customers, consumers, suppliers and shareholders deserve nothing less. Because of the passion, talent and strength of these 72,000 associates, I continue to look forward with enthusiasm and optimism to a bright future for Goodyear.”
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