Stellantis North America COO Mark Stewart has been appointed as the CEO of Goodyear Tire & Rubber, effective January 29, 2024.
“Mark is a seasoned automotive executive and proven operator with a track record of driving innovation and commercial excellence,” commented Laurette Koellner, independent lead director of Goodyear’s board.
Goodyear initiated a review in July 2023 to maximize shareholder value, in response to softening demand and rising inflation. As part of a deal with activist investor Elliott Investment Management, Goodyear appointed new board members Joseph Hinrichs, a former senior executive at Ford Motor Company (now CEO of railroad giant CSX Corporation); Max Mitchell, CEO of aerospace and defense supplier Crane; and Tenneco Inc.’s former co-CEO, Roger Wood.
Acknowledging Stewart’s departure from Stellantis, CEO Carl Tavares said, “I would like to thank Mark Stewart for his contribution to this role after a three-year cycle, corresponding to the date of creation of Stellantis and I wish him the best in his new position.”
Goodyear’s former CEO and chairman, Richard Kramer, announced his intention to retire in November 2023.
