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.
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.
While Goodyear reported a net loss of $57 million in the first quarter of 2024, other metrics suggest that the company’s financial situation is offering signs of improvement. A strong showing from the Asia Pacific region and the welcome “stabilisation” of truck tyre demand in EMEA were both notable examples of improvement alongside the impact of Goodyear’s well-documented Goodyear Forward transformation plan.
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.
Following the news that Mark Stewart has been appointed as Goodyear’s new global chief executive, further details of his remuneration have emerged. He’s getting paid a double-digit-million-dollar package in year one.
The Goodyear Tire & Rubber Company has named Mark Stewart as chief executive officer and president, effective 29 January 2024. He succeeds Richard J. Kramer, who announced his retirement from Goodyear towards the end of 2023. In addition, also as of 29 January, Laurette T. Koellner, independent lead director of Goodyear’s board since 2019, will become non-executive board chair, and Stewart will be added to the Goodyear board as a director.
By the end of next year, TRW Automotive Holdings Corp. intends to have opened three further plants in China. Two of these facilities will be located on the same site in Zhanghjiagang, Jiangsu province; the first, a factory dedicated to braking, will start operations at the end of the second quarter of 2015, while a November 2015 start is planned for the other, an occupant safety systems facility. The third plant is located in Xian and is also an occupant safety systems factory. It should be operational by the third quarter of 2016.
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