(RTTNews) - The Goodyear Tire & Rubber Co. (GT) announced Wednesday that Richard Kramer has informed the Board of his plans to retire as Chairman, CEO and President of the Company in 2024. He became CEO in 2010 and was elected Chairman by Goodyear's Board of Directors later the same year.
In connection with Kramer's planned retirement previously discussed with the Board as part of the Company's ongoing and active succession planning process, the Goodyear Board retained a leading executive search firm to execute a search considering both internal and external candidates.
Kramer's appointment as CEO culminated a steady rise through the company in a series of key leadership roles over the course of a decade. After joining Goodyear in 2000 as vice president of corporate finance, he served as vice president of finance for the company's North America business from 2002 to 2003.
He was executive vice president and chief financial officer until 2007, president of Goodyear North America from 2007 to 2010 and also served as chief operating officer from June 2009 until being named CEO in 2010.
Before joining Goodyear, Kramer was a partner with PricewaterhouseCoopers, where he spent 13 years including a three-year assignment based in France.
The Company separately announced today a transformation plan, Goodyear Forward, to optimize its portfolio, deliver margin expansion and address its net leverage to drive sustainable, long-term shareholder value creation.
