Judith Sautereau is Goodyear’s new Communication Manager Europe South. In this role, she takes responsibility for leading Goodyear’s external and internal communications activities throughout France, Italy, Iberia, and Greece, to support sales and marketing initiatives for all lines of businesses and manage Goodyear reputation. Sautereau will be based in Paris.
On the evening of 31 July, Goodyear presented its Q2 2024 financial results, some of which showed significantly improved operating results and profit margins. But this didn’t impress investors, who from the figures identified something of particular significance to the tyre maker’s future development. Analysts subsequently reported that Goodyear is cutting costs everywhere on its return to long-term profitability. This is starting to have an impact on sales, particularly in the US domestic market.
At the end of 2022, Goodyear extended its supplier/sponsorship contract for US motorsport series NASCAR, but at that time did not provide any further details on the duration of the agreement concluded with the eponymous National Association for Stock Car Auto Racing. A new GlobalData report on this motorsport competition, titled The Business of NASCAR 2024, indicates that the tyre maker’s NASCAR commitment extends from 2023 to 2027. What’s more, the data analysis specialist states that Goodyear’s NASCAR sponsorship will cost the company US$25 million a year during this period.
The Goodyear Tire & Rubber Company reported Q2 2024 results yesterday, announcing sales of US$4.6 billion for the three months to 30 June 2024, with tyre unit volumes totalling 40.1 million. Goodyear’s Q2 2024 net income was $85 million compared to a net loss of $208 million a year ago. The company attributes the year over year improvement to increases in segment operating income.
In a move related to its November 2023-unveiled Goodyear Forward transformation plan, The Goodyear Tire & Rubber Company intends to relocate 175 positions from its global headquarters in Akron, USA to Costa Rica. Doug Grassian, promoted earlier this month to become the tyre maker’s vice president of global communications, explained that the positions moving to Costa Rica support corporate functions and Goodyear’s business segment covering North and South America.
A week and a half after confirming its interest in acquiring The Goodyear Tire & Rubber Company’s Off-the-Road (OTR) tyre business, The Yokohama Rubber Co., Ltd. has announced that it has entered into a purchase agreement valued at US$905 million in cash. Completion of the acquisition is conditional on the usual regulatory approvals and is expected to close by early 2025.
As of 1 July 2024, Goodyear has combined its Australia/New Zealand (ANZ) and ASEAN businesses into a single cluster, ASEANZ. It has appointed Prashant Lal to lead the cluster as Managing Director. The company anticipates that this “strategic move” will bolster its rapidly expanding Asia Pacific business and leverage broader growth opportunities.
Gary VanderLind will soon retire from The Goodyear Tire & Rubber Company, and the company has appointed Nicole Gray to succeed him as Senior Vice President and Chief Human Resources Officer. Gray will take on this remit from 1 July 2024.
In an operation that French newspaper Le Monde describes as “both spectacular and unprecedented,” investigators from three European countries carried out a series of raids against Goodyear today. The publication writes that the prosecutor in Besançon, France confirms this action, which took place just two months shy of the tenth anniversary of a fatal motorway crash involving a Goodyear Marathon LHS II truck tyre.
Goodyear India Limited reports the resignation of its Chief Financial Officer, Manish Mundra. In a letter dated 1 May 2024, Mundra informed Goodyear India’s Board of Directors of his intention to part ways with the company, effective from the close of business hours on 30 June 2024. Munish explains that he wishes to explore “professional growth opportunities outside the organisation.”
The Goodyear Tire & Rubber Company has named Ryan Waldron President of the firm’s Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on 1 April.
The Goodyear Tire & Rubber Company intends to close another production facility, this time far away from its European operation. The company will end tyre making at its plant in Shah Alam by 30 June 2024, with the closure process completed by the end of this year. Approximately 550 employees will be directly affected by the plant’s shutdown.
Tyres are just black and round, as friends and loved ones never grow weary of pointing out, but things get more complicated when the Dunlop name is on the sidewall. While most tyre brands are produced by a single company, Dunlop has the distinction of being made by no less than three. But things may soon become simpler.
Rich Kramer isn’t the only member of The Goodyear Tire & Rubber management team who will retire in 2024. Both Darren Wells and Stephen McClellan plan to end their service with the tyre maker within the coming quarter of a year.
In 2021, The Goodyear Tire & Rubber Company began collaborating with Netherlands-based research organisation TNO into solutions that facilitate communication between a vehicle’s tyres and its anti-lock braking system (ABS). More than three years later, the partners are showcasing their work on integrating tyre intelligence technology into the ABS controller of a test vehicle.
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