In its letter to the Goodyear Board, Elliott Investment Management L.P. requests engagement on Board Enhancement, monetising Goodyear’s retail platform, and forming an Operational Review Committee. At the receiving end of Elliott’s open letter are Goodyear CEO Rich Kramer and the current board of directors. The declaration that “we believe Elliott’s strength is in catalysing change” can be read as a promise to dissatisfied Goodyear shareholders and a threat to the leadership team.