GOODYEAR ANNOUNCES SENIOR LEADERSHIP TRANSITION: MARK STEWART TO SUCCEED RICH KRAMER AS CEO

Leadership Transition - Mark Stewart has been elected as the new Chief Executive Officer and President of Goodyear, effective January 29, 2024, succeeding Richard J. Kramer, who is retiring after 24 years with the company, including 14 years as CEO [1][5] - Laurette T. Koellner, who has been the Independent Lead Director since 2019, will become the non-executive Board Chair on the same date [1] Mark Stewart's Background - Stewart previously served as Chief Operating Officer of North America at Stellantis, leading a business unit with over 88,000 employees and more than $90 billion in revenue, and was instrumental in the region's electric vehicle transformation [2] - He has extensive experience in operations management, having held significant roles at Amazon and ZF TRW Automotive, overseeing diverse manufacturing and fulfillment operations globally [3][4][7] Strategic Vision - The Board of Directors expressed confidence in Stewart's ability to lead Goodyear, emphasizing his track record in driving innovation and operational excellence [5] - Stewart highlighted Goodyear's potential for growth and the importance of the "Goodyear Forward" strategy in unlocking the company's full potential [5] Richard J. Kramer's Legacy - Kramer is recognized for his unwavering dedication to Goodyear and for advancing the company's business models and competitive advantages during his tenure [5][6] - He will continue to serve in an advisory capacity to ensure a smooth transition [6] Company Overview - Goodyear is one of the largest tire companies globally, employing approximately 74,000 people and operating 57 facilities across 23 countries [10] - The company has two Innovation Centers located in Akron, Ohio, and Colmar-Berg, Luxembourg, focused on developing advanced products and services [10]