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Michelin to Change UK Pension Scheme

The retirement plans of 4,000 Michelin employees in the UK – including workers at the Stoke-on-Trent, Dundee and Ballymena plants and ATS employees – have been affected by the company’s planned closure of its final-salary pension scheme to existing members and decision to transfer staff onto a money-purchase plan. The company said this decision was made in the face of a continued deficit of more than £250 million, despite the fund receiving a £100 million top-up in recent years. In 2002 the company’s UK pension deficit sat at only £57 million.

The proposed changes would see members of its pension scheme cease building up any further benefits from January 1, 2009. Accrued pension benefits will be preserved and will remain linked to the employee’s final salary at retirement. Michelin stated that it plans to pay off the deficit in its final salary scheme over the next decade.

8th May 2007/by Tyrepress Editors

W. Alan McCollough Elected to Goodyear Board

W. Alan McCollough, former chairman and chief executive officer of Circuit City Stores Inc., has been elected to the Board of Directors of The Goodyear Tire & Rubber Company.

“Alan McCollough is a respected business leader who led a turnaround at Circuit City,” said Goodyear chairman and CEO Robert J. Keegan. “His retail experience and marketing knowledge will be of significant value to our board of directors.”

11th April 2007/by Tyrepress Editors

Ex-Michelin Man Ghosn Out at Nissan N.A.

(Akron/Tire Review) Former Michelin North America chief Carlos Ghosn has stepped down as CEO of Nissan North America, which recently relocated from Los Angeles to Nashville. Ghosn will retain his posts as CEO of both Nissan Motor Co. and Renault SA.

Ghosn is the second top Nissan North America executive to step down in recent weeks, and the second former Michelin executive to do so. Jim Morton, vice chairman of Nissan and former PR chief at Michelin North America, announced his retirement in late February.

Automotive observers praised Ghosn’s move, saying the company needed more focus in North America, and hinted that further shake-ups at Nissan may be in the offing.

20th March 2007/by Tyrepress Editors

Kumho Tire’s 2006 Profit Suffers – Material Costs and Strong Won to Blame

South Korea’s second largest tyremaker, Kumho Tire Co., has released news that its net profit declined significantly during 2006 due to higher raw material prices and a firmer South Korean won. Kumho Tire earned 1.09 billion won (£600,000) in net profit last year, compared with a profit of 98 billion won (£54.5 million) from the same period a year ago, the company said in a regulatory filing.

2nd February 2007/by Tyrepress Editors

New MD For Mahle

Automotive filter and engine component supplier Mahle Filter Systems UK has appointed Phil Everitt as its new managing director. Everitt has been finance director of the company since 2002 and has over 25 years’ experience in the automotive sector, holding senior positions with TRW/Lucas and Rover.

He succeeds Ian Stanworth, who is taking early retirement after a career spanning 35 years in the automotive aftermarket, the last five of which were as Mahle’s MD

11th January 2007/by Tyrepress Editors

Kwik-Fit Appoints Phil Preece To Head Insurance-Related Business

Kwik-Fit Fleet has appointed Phil Preece to take charge of its relationships with vehicle insurance companies and bodyshops following the end-of-year retirement of Peter Melville. As business development manager for the insurance/bodyshop sector Mr Preece, who has been Kwik-Fit Fleet’s area sales manager for the Midlands for the past nine years, will be responsible for establishing new and developing already existing business relationships with all major motor insurers.

11th January 2007/by Tyrepress Editors

Goodyear Offers Incentives to Slash Workforce

Goodyear is offering union employees retirement incentives of as much as US$40,000 in an attempt to cut their US workforce by 400 jobs. These incentives, or buyouts, are being offered at four of the company’s union plants as part of the new three-year contract ratified between Goodyear and the United Steelworkers of America.

The incentives, which are intended to help Goodyear reduce spending and compete against competitors with lower labour costs, will be offered to workers in February. Employees who accept the offer will be entitled to a once-off cash payment equal to US$2,000 for each year the have been employed by Goodyear, up to a maximum of US40,000. All employees taking up the offer will receive at least US$8,000, and will be eligible for the healthcare benefits given to retirees.

4th January 2007/by Tyrepress Editors

New Vice Presidents Named at BEN

Motor industry figures, Freddie Aldous, Honorary Life President of the BVRLA, and Sarah Sillars, Chief Executive of the IMI have been elected by BEN’s Board of Trustees as Vice Presidents for the financial year 2006/2007. BEN’s Chief Executive, Gerard Barclay, was delighted to announce these appointments stating: “Whilst last year was successful financially for BEN, the first 6 months of this financial year are proving more challenging. I am therefore delighted that we have enlisted the support of two such eminent individuals from different sectors of our industry and I feel this goes to show the breadth of support that could be available for BEN.”

10th November 2006/by Tyrepress Editors

Schumacher Wins 90th Grand Prix, Announces Retirement

Seven-time world champion Michael Schumacher will retire from F1 at the end of the season. The announcement follows Schumacher’s first place in the Italian Grand Prix, a result that reduces his title deficit (behind Renault’s Fernando Alonso) to just two points. The Ferrari (Bridgestone) driver’s victory was the 90th in a career in which Schumacher has broken almost every F1 record.

But he has also been a controversial champion. “Where Schumacher cannot draw the right line is on track. He cannot see when he crosses the line between tough but fair, and ruthless but foul. That is exacerbated by his total belief that he cannot be wrong. He has a default mode in the car: if you’re going to pass him, he will drive you off the road. He even did it to me as a team-mate,” former Benetton team-mate, Martin Brundle commented.

11th September 2006/by Tyrepress Editors

Canadian Tire Shakes Up Top Management

(Akron/Tire Review) Tom Gauld has been named president and CEO and a director of Canadian Tire Corp. He succeeds Wayne Sales, who stepped down from the board and his position as president and CEO. Sales will stay on as vice chairman in an advisory capacity to Gauld. Gauld, the past president of Canadian Tire Financial Services, had retired from the company last year.

2nd May 2006/by Tyrepress Editors

G. Craig Sullivan Elected to Goodyear Board

G Craig Sullivan, former chairman and chief executive officer of The Clorox Company, has been elected to the Board of Directors of The Goodyear Tire & Rubber Company.

“Craig Sullivan is a top-rate business leader with extensive experience in building strong consumer brands,” said Goodyear chairman and chief executive officer Robert J. Keegan. “His experience and knowledge will be of significant value to our board of directors.”

11th April 2006/by Tyrepress Editors

Events Head Leaves BEN

Patrick Fitz-Gibbon, Head of Events at BEN for 3-and-a-half years, will take early retirement leaving BEN on Friday 31 March. In his time with BEN Patrick has brought over 40 years experience of PR, corporate hospitality and event planning and management to the role of head of events at BEN. This, coupled with his introduction of a range of management tools and procedures, has contributed to the further development of an efficient Events Team executing a growing number of popular activities.

30th March 2006/by Tyrepress Editors

Treadways Appoints New CEO and COO

(Akron/Tire Review) Following the retirement of chairman and CEO Dan Wire on 31 March, Treadways Corp has announced the reassignment of two senior executives. Ryoji (Roy) Araki will assume the position of chairman of the board and CEO, and Koichiro (Kyle) Iwasawa will assume the position of president and chief operating officer.

28th March 2006/by Tyrepress Editors

Obituary: John Joseph Tinker

BEN, the Motor and Allied Trades Benevolent Fund is mourning the loss of one of its long serving board members – John Joseph Tinker. John sadly died on Friday 23 December, having suffered poor health in recent months.

6th January 2006/by Tyrepress Editors

Alcoa Organisation Changes

Alain Belda, chairman and CEO of Alcoa has announced the retirement of Richard B. Kelson, chief financial officer and EVP. Joseph C. Muscari will succeed him in the role, effective 1 January 2006.

“Rick Kelson has been an integral part of Alcoa’s success over the past three decades,” said Belda. “We are sorry to lose him, but I am pleased that he has agreed to stay on well into next year to help provide for a smooth transition.” Mr Kelson will become chairman’s counsel in January and will continue to advise the company on the transition.

17th November 2005/by Tyrepress Editors