The Goodyear Tire & Rubber Company (NASDAQ: GT) announced today that Mark Stewart will take over as Chief Executive Officer and President from January 29, 2024. Stewart, who has a rich background in the automotive industry, succeeds Richard J. Kramer following his retirement, marking a new chapter in Goodyear’s storied history.
A New Era for Goodyear
The appointment of Mark Stewart as CEO and President of Goodyear heralds a new era for the globally renowned tyre company. Stewart, succeeding Richard J. Kramer, who dedicated 24 years to Goodyear, including 14 as Chairman, CEO and President, brings a wealth of experience from the automotive and technology sectors. Laurette T. Koellner, currently the Independent Lead Director of Goodyear’s Board, will step into the role of non-executive Board Chair upon Stewart’s appointment.
Stewart's Distinguished Career
Before joining Goodyear, Mark Stewart made significant strides at Stellantis, a global automaker, as the Chief Operating Officer (COO) of North America. His tenure there was marked by the successful introduction of the first electrified Jeep in the U.S. market and substantial financial growth. His previous roles include Vice President of Customer Fulfillment at Amazon, and executive positions at ZF TRW Automotive, bringing vast international experience and expertise in manufacturing, operations, and technology.
Comments from Goodyear’s Leadership
Laurette T. Koellner expressed confidence in Stewart’s appointment, praising his operational expertise, commitment to innovation, and his ability to manage through various business cycles. “Mark is the ideal CEO for Goodyear as we continue executing against the Goodyear Forward plan,” she stated.
Mark Stewart shared his enthusiasm about joining Goodyear, recognizing the company's potential for growth and innovation. He stated, “I am confident that Goodyear Forward is the right strategy to unlock the Company’s full potential in its next chapter.”
Acknowledging Kramer’s Contributions
The Board of Directors, along with Stewart, acknowledges the significant contributions of Richard J. Kramer to Goodyear. His leadership saw the advancement of the company’s business models and competitive positioning. Kramer expressed his gratitude for the opportunity to lead Goodyear and pledged support for a smooth transition.
About Mark Stewart
With a rich history in the automotive sector, Stewart brings experience in global operations management and has demonstrated expertise in business development, manufacturing, and engineering. His academic credentials include an M.B.A. from The University of Tennessee-Knoxville and a B.E. in Electrical and Electronics Engineering from Vanderbilt University.
Looking Ahead
As Mark Stewart steps into his new role at Goodyear, the tyre industry and market watchers will be keenly observing how his leadership influences the company's direction, especially in areas like innovation, sustainability, and global operations. His proven track record suggests a promising future for Goodyear under his stewardship.
