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Goodyear to name Stellantis exec Mark Stewart as new CEO - Bloomberg News

January 18, 2024 at 12:14 am

(Reuters) - Goodyear Tire & Rubber Co is expected to name Stellantis executive Mark Stewart as its new CEO following a pressure campaign by activist investor Elliott Investment Management L.P. , Bloomberg News reported on Wednesday.

Goodyear plans to announce Stewart's appointment as soon as this week, the report said, citing people familiar with the matter.

The search for a new CEO was not influenced by a settlement with activist investor Elliott, the report added.

Goodyear and Elliott did not immediately respond to Reuters' requests for comment.

Last year, the company said its longtime CEO Richard Kramer was set to retire in 2024, while unveiling initiatives to streamline its business, months after the Elliot settlement in May.

Elliott's investment made it one of Goodyear's biggest investors. The firm urged the company to refresh the board, sell its stores and conduct an operational review.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Rashmi Aich)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
STELLANTIS N.V.	20.2 EUR	-1.34%	-1.70%	84.35B
THE GOODYEAR TIRE & RUBBER COMPANY	12.31 USD	+2.41%	-0.24%	3.5B
STELLANTIS N.V.	20.22 EUR	-1.17%	-1.68%	84.35B

Mark Stewart

Mark W.
Stewart is currently the President, Chief Executive Officer & Director at Goodyear Tire & Rubber Co. Prior to his current position, he held various roles including Operations Director at TRW, Inc., Vice President-Operations at Amazon.com, Inc., Vice President at ZF Automotive US, Inc., Chief Operating Officer & Executive Vice President at ZF TRW Automotive Holdings Corp., and Chief Operating Officer-North America at Fiat Chrysler Automobiles NV.
Mr. Stewart obtained his undergraduate degree from Vanderbilt University and his MBA from the University of Tennessee.

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