On November 19, Tennessee, US based banking group First Horizon National Corporation named Bridgestone Americas Holding chairman and CEO Mark Emkes as one of the group’s two new board members. This appointment took effect immediately. Mr. Emkes has also been appointed to serve on the Compensation Committee and the Audit Committee of the Company’s Board of Directors.
News sources including the New Musical Express are reporting that Travis Barker and his deceased friend/bodyguard’s mother have sued Goodyear, who owned the Learjet plane that crashed back in September, along with jet charter companies Clay Lacy Aviation, Global Exec Aviation and Inter Travel Services, and aircraft manufacturer Bombardier Inc. Goodyear spokesman Ed Markey describes the decision to sue, which comes before the conclusion of the National Transportation Safety Board’s investigation, as “unfortunate.”
The lawsuit claims that the crash – which killed four including Charles “Che” Monroe Still Jr. and injured Barker and fellow performer DJ AM – was caused by negligence on the part of the pilots and product defect in the case of Bombardier and Goodyear. According to news sources, Barker is suing variously for pain, psychological distress, suffering, mental anguish, disfigurement and “pre-impact fear of death and burning.”
According to a senior Rubber Board official, India’s natural rubber production has risen 19.6 per cent during the first seven months of the 2008-2009 financial year, reports Reuters. The total output in this seven month period is 476,865 tonnes. At the same stage last year, the figure stood at 398,850 tonnes. India is the world’s fourth largest supplier of natural rubber, with peak season extending from September to February. Though this peak tapping period will see a drop off in the last two months of ‘08-’09, it is still predicted that 875,000 tonnes will be produced this year, 6 per cent up from last year’s figure of 825,000 tonnes.
Meanwhile, this rise in production has seen the country’s natural rubber trade deficit close – imports are down 7.3 per cent to 48,799 tonnes, whereas exports are up 80 per cent at 32,760 tonnes. According to the Reuters source, total stocks were at 144,450 tonnes at the end of August.
Current economic conditions have seriously shaken the confidence of North American consumers. Last week, the Reuters/University of Michigan Surveys of Consumers said its index of confidence plummeted to 57.5 in October from 70.3 in September – its steepest monthly drop ever. The index’s all-time low was 51.7, which it hit in May 1980; it is now at its lowest point since June. “All of the prior double-digit declines were based on severe economic dislocations with the losses accelerated by fear and panic,” the report said.
Canadian consumer confidence also fell in October, reaching the lowest level in more than 25 years, according to the Conference Board of Canada’s consumer confidence index also released last week. The Board’s index fell to 73.9, the lowest level since the third quarter of 1982 during the height of the early 1980s downturn. “The global credit crunch and major stock market declines clearly had an effect on consumer confidence,” said Pedro Antunes, the board’s director of national and provincial forecasts. “Consumers felt that they would be worse off in six months, indicating concerns that the financial crisis would not be resolved quickly.” (Tire Review/Akron)
Mark Wallace has quit as president and CEO of Webasto Product North America. “It is with deep regret that I announce that Mr. Wallace will be leaving Webasto”, said Joachim Damasky, member of the management board of Webasto AG. “He has chosen to accept an excellent leadership opportunity with a large, publicly-traded company. We wish him the very best in his future endeavors.” Fred Olson, member of the WPNA board, will assume the role of interim president and CEO, Webasto said. (Tire Review/Akron)
Bridgestone Corporation announced on October 14 that its board of directors has approved the following proposals of the changes in corporate officers.
Changing positions and responsibilities of Corporate Officers – effective October 16, 2008
– Yasumi Kawasaki.
New position and responsibilities: Vice president and senior officer responsible for Quality Management, Quality
Current position and responsibilities: Vice president and senior officer responsible for Quality Management
Titan International chairman and CEO Maurice M. Taylor Jr. is to hold his position within the company at least until 2012, following a two-year extension of his employment contract.
“The Board of Directors proposed a two-year addition to my contract, but before I agreed, I had my doctor, Dan Megler, give me a physical. He told me I was healthy as a 42-year-old jock and I agreed. Hopefully those who know me are not laughing too hard now!” said Taylor. “But seriously, the success of Titan’s super giant tyre project has been the most fulfilling career challenge of my life. I owe this success to our employees, and it is because of their hard work that we see these super giant tyres in use around the world.”
Two Goodyear employees have taken the “Spirit of Innovation” to new levels by staging their marriage on-board the famous blimp. Sonya Waggoner and Wallace Campbell brought forward their plans to marry in November, when office-wag and friend of the couple, Phil Petty persuaded Campbell to use his blimp ride ticket to give Waggoner a surprise wedding day she would never forget.
Reluctant at first, Petty told local news sources in Gadsden, Alabama how he pestered his co-worker until he caved-in, allowing the wannabe wedding-planner to pursue his vision for the couple’s big day: “I told him it was a lifetime opportunity…he didn’t much want to do it, but we kept talking. He finally said, ‘If you can do something to make it happen, I’ll do it.’” Petty took this literally, arranging – with the help of the Gadsden plant’s communications manager, Jackie Edmondson – for the probate judge to conduct the ceremony and a tyre-shaped wedding cake.
Goodyear Tire & Rubber has elected Stephanie A. Streeter, former chairman, president and chief executive officer of Banta Corporation, to the company’s Board of Directors. “Stephanie Streeter is a respected business leader who led sales and earnings growth for a successful consumer products company and drove record revenue growth during challenging times with a global printing and supply chain management firm,” said Goodyear chairman and CEO Robert J. Keegan. “Her business leadership experience and marketing knowledge will be of significant value to our board of directors.”
Pirelli Tyre chief executive, Dr Francesco Gori, was today re-elected as European Tyre & Rubber Manufacturers’ Association (ETRMA) president. The ETRMA board’s decision to re-elect Dr Gori means he will server a further three-year term from 2009 to 2011. Patrick Lepercq (Michelin) was elected as vice-president for the same period.
Dr Francesco Gori became CEO and managing director of Pirelli Tyre in 2006. He joined the group in 1978 and became general manager of the Tyre Sector in 2001. Patrick Lepercq joined Michelin in 1980. Since 2002, he has been corporate vice-president Public Affairs.
Cam Systems has announced the appointment of Steve Daly to the newly-created Board position of commercial director. Daly was formerly head of UK sales for Destiny Wireless Plc where he worked with Cam as a client, as well as with other leading customers such as National Grid Wireless, Alfred McAlpine and Acuity Management Systems.
The new role at Cam will see Daly splitting his time and energy between two major priorities. He will spearhead the development of Cam’s presence and influence in non-traditional markets and technologies, as the company looks to broaden its capabilities and range of products and services. Another prime task will be to work with the existing customer base to provide improved service delivery levels and develop broader commercial relationships.
Natural rubber production surged upwards by 18 per cent in India in August, claims the national Rubber Board. 72,000 tonnes of rubber were produced in the month, with India seeing helpful climatic conditions. The figure dwarfs the 60,850 tonnes produced in August 2007. There was also a rise in Indian consumption of said rubber, though the proportional rise was a mere 4 per cent at 78,000 tonnes (2007: 75,105 tonnes).
Senior Rubber Board officials told the media that the rise comes on the back of “an increase in the production and export of vehicle tyres.” During the period under review, the export of natural rubber shot up by 65 per cent to 2,341 tons against 1,416 tons, while import witnessed a slump of 150 per cent to 2,726 tons, compared with 6,839 tons in the same period last year.
Titan International Inc. discontinued discussions regarding a potential offer for Titan Europe Plc’s outstanding ordinary shares. On April 12, Titan International Inc. filed a preliminary proxy regarding a potential offer for an exchange of stock to be made with Titan Europe Plc for all or a partial amount of 51% or more of Titan Europe’s outstanding ordinary shares. On September 10, the Titan International board of directors notified Titan Europe Plc that they were discontinuing discussions on the potential offer for Titan Europe Plc.
Titan International Inc. continues to focus its efforts on production of its new 57- and 63-inch giant steel belted radial tires, the company said. (Tire Review/Akron)
Pirelli is close to releasing its latest tyre technology – an ‘intelligent’ tyre fitted with a microchip within its carcass. Courtesy of the tyre’s hi-tech addition, vital information about the tyre and road conditions can be communicated to a vehicle’s on-board computer, thereby improving the car’s electronic control and warning the driver of any potential problems.
Veyance Technologies Inc., exclusive manufacturer of Goodyear Engineered Products, has appointed Joseph Gingo, chairman and CEO of A. Schulman Inc., to its governing board. The election of Mr. Gingo increases the size of Veyance’s board to seven.
“Joe’s broad experience includes leading our business ten years ago when we were a division of The Goodyear Tire & Rubber Co.,” said Veyance president and CEO Tim Toppen in a statement. “He fully understands our customer-focused, market-back business philosophy and the importance of innovative products and services.”
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