board Archives - Page 35 of 40 - Tyrepress

Posts

Holert-Konz Confirms Restructuring Plans

A member of Goodyear Dunlop Germany’s executive board confirmed to Tyres & Accessories that Holert-Konz’s restructuring plans are underway. The move will see the company move its outlets into a franchise system under the Premio banner. Consequently around 15 of Holert-Konz’s 96 outlets have already been shut down. So far interested parties are negotiating for around 30 franchises. The remaining 50 outlets are still owned by Goodyear Dunlop, but the company also plans to franchise these.

30th June 2004/by Tyrepress Editors

Hayes Lemmerz Financial Results

Hayes Lemmerz has posted its first quarter 2004 results, which reflect a 15% sales growth, reduced debt and a stronger balance sheet. Sales of the global supplier for the first fiscal quarter rose to $594.1 million from $515.3 million of the previous year. Earnings from operations for the first financial period climbed sharply to $26.2 million, compared with $14.4 million a year earlier.

17th June 2004/by Tyrepress Editors

Mohsen Sohi Appointed to Hayes Lemmerz’ Board of Directors

Hayes Lemmerz International, Inc. has appointed Mohsen Sohi to its board of directors.

Currently president and CEO of Freudenberg-NOK, Mr. Sohi has a wealth of experience and an extensive skills profile to bring to his new role.

15th June 2004/by Tyrepress Editors

Continental Acquire half of Phoenix

On 10 June Continental announced that it had reached the 50% mark in its planned takeover of Phoenix. “With 50.02% we have already attained a majority interest and feel that our confidence in procuring over 75% of the shares as targeted has been affirmed,” said Manfred Wennemer, chairman of the Continental executive board.

The company believes that the proposed merger of the two companies is good “industrial logic” and that it has offered Phoenix shareholders a good price. Following sales of around 1.8 billion in 2003 Continental’s ContiTech division see the move as a step towards strengthening its position as one of the world’s leading rubber and plastic technology specialists.

14th June 2004/by Tyrepress Editors

Yokohama: Changes in the Board of Directors

The Yokohama Rubber Co., Ltd., at the Meeting of its Board of Directors, decided the following changes in directorships and the introduction of the position of Corporate Officers, to become effective upon approval at the General Meeting of Shareholders to be held on June 29, 2004.

Promoted Director and Corporate Officer (Current position):

Yasuo Tominaga, Chairman and Representative Director(President and Representative Director)
Tadanobu Nagumo, President and Representative Director (Executive Director)
Keigo Ueda, Director and Senior Managing Corporate Officer(Managing Director)
Takashi Sugimoto, Director and Senior Managing Corporate Officer (Managing Director)
Toshihiko Shiraki, Managing Corporate Officer (Director)

18th May 2004/by Tyrepress Editors

Discussions Begin Over Ziebart’s Successor Before He Leaves

Continental’s deputy chairman of the board Wolfgang Ziebart is tipped as the hot favourite to become the new chairman of chip manufacturer Infineon, following the departure six weeks ago of the then chairman Ulrich Schumacher. In the meantime, news agencies are quoting from a letter, written by Continental’s supervisory board Chairman Dr. Hubertus von Grünberg to other board members, saying that he is working hard to ensure that the Continental Automotive Systems business unit (for which Ziebart is responsible) continues to be run successfully – and this before Ziebart has even left the company.

7th May 2004/by Tyrepress Editors

Continental And JK Tyre Review Options

Continental and JK Industries are in talks to explore how the two companies can strengthen their existing alliance. Among the options is that of Continental investing in a joint venture for the Indian market. Continental board member Hans-Joachim Nikolin is quoted in the Indian press as saying that the discussions are taking place “at levels up to the most senior in both companies.” He also adds that radialisation is increasing in the Indian tyre market and “the technological capabilities of Continental were now applicable to the Indian situation.”

27th April 2004/by Tyrepress Editors

Hayes Lemmerz Appoints Director

Ms Laurie Siegel has been appointed to the board of Hayes Lemmerz. Ms Siegel joined Tyco International in January 2003 as Senior Vice President, Human Resources and, before that, she spent eight years at Honeywell International, latterly also in human resources. Hayes Lemmerz Chairman and CEO Curtis Clawson said “Laurie’s broad business knowledge, deep HR background and extensive experience in benchmark companies will be valuable assets to Hayes Lemmerz and its Board.”

26th April 2004/by Tyrepress Editors

Dana Corporation elects Samir Gibara to board

Samir G. Gibara, former chairman of Goodyear Tire & Rubber Company has been elected to the Dana Corporation Board of Directors. In addition to his Dana Corporation appointment, Gibara serves on the board of directors of Sumitomo Rubber Industries and International Paper.

20th April 2004/by Tyrepress Editors

11th Director For Goodyear

Shirley D. Peterson (62) has been elected to the Board of Directors of the Goodyear Tire & Rubber Co. She is the 11th member of the board, 10 of whom are independent. Peterson spent 20 years as an attorney then, in 1989, was appointed Assistant Attorney General, Tax Division at the U.S. Department of Justice. In 1992 she was appointed Commissioner of the Internal Revenue Service by President George Bush. In 1995, Peterson was named president of Hood College in Frederick, Maryland. Goodyear’s chairman and CEO Robert Keegan praised Peterson’s record in business, government and academia, saying: “She will make important contributions to our board.”

14th April 2004/by Tyrepress Editors

Six gone at Maxiprest Board

The resignation of six directors from Bridgestone Firestone Maxiprest cost the company some experience but that has been remedied by some new appointments. The company still, however, lacks an MD. The reasons for all the resignations are not clear, but at the bottom of it appears to be a rift between 66 per cent owner Bridgestone Firestone SA and the tyre supplier’s management.

5th April 2004/by Tyrepress Editors

Bridgestone flexes muscle at Maxiprest

Maxiprest (South Africa) yesterday announced the resignation of three executive directors, including chief executive Colin Brown. This follows the resignation last month of three non-executive directors, who suggested in a letter released after their resignations that there was a conflict between the board of Maxiprest and its management. They said that executives of Bridgestone SA had conceded during a meeting that they intended “to replace the existing management of the company with Bridgestone SA employees.” There is conflict between Bridgestone SA and Maxiprest. The future of Maxiprest is now uncertain, but there is speculation that Bridgestone may buy out the remaining shareholders and delist the company.

12th March 2004/by Tyrepress Editors

Bandag Declares Quarterly Dividend

The Board of Directors of Bandag, Incorporated, has declared a regular quarterly dividend of 0.325 US dollars per share on the Common Stock, Class A Common Stock and Class B Common Stock of the Company payable April 19, 2004 to shareholders of record at the close of business on March 19, 2004.

10th March 2004/by Tyrepress Editors

John Fiedler in Snap-on’s board of directors

Snap-on Incorporated, supplier of tools, diagnostics and equipment, has announced that John F. Fiedler (65), retired chairman of the board and chief executive officer of BorgWarner Inc., has been appointed to Snap-on’s board of directors. Fiedler served as BorgWarner’s chairman and chief executive officer until 2003. Prior to 1995, he was president and chief operating officer. During his tenure, BorgWarner increased its revenues from $800 million to roughly $3 billion, and grew from a largely North American company to one with a geographically balanced customer base. Prior to joining BorgWarner in 1994, Fiedler was with The Goodyear Tire & Rubber Company where he was executive vice president in charge of the North American Tire division.

26th February 2004/by Tyrepress Editors

Delphi’s Rodney O’Neal Elected to Goodyear Board

Rodney O’Neal, the president of Delphi Corporation’s Dynamics, Propulsion, Thermal and Interior Sector, has been elected to the Board of Directors of The Goodyear Tire and Rubber Company. “Rodney has demonstrated outstanding leadership throughout his many business management successes at General Motors and Delphi,” said Goodyear Chairman and Chief Executive Officer Robert J. Keegan. “We are confident he will make significant contributions to our board.” In his present position, which he has held since 2003, O’Neal is also responsible for Delphi’s operations in Europe and South America and serves as executive champion for its Ford Motor Company customer team. He is a member of the Delphi Strategy Board, the company’s top internal policy-making group. The election of O’Neal brings the size of Goodyear’s board to ten members, nine of whom are independent..

5th February 2004/by Tyrepress Editors