Rich Kramer became president and chief executive officer of Goodyear Tire & Rubber Co. at the tiremaker’s annual shareholder meeting yesterday. The move makes Kramer the 19th person to lead Goodyear as president or CEO since its founding in 1898.
Bob Keegan, Kramer’s predecessor, remains with the company as executive chairman.
Kramer thanked Keegan and the board of directors for their confidence in electing him to lead the company. “I am proud to assume the role of CEO as Bob Keegan’s successor. With that pride, and appreciation to Bob and the board for their confidence in me as your new president and CEO, I now look forward with enthusiasm and optimism to the future prospects of Goodyear, building from the foundation established by my predecessor,” he said.
“When I think about the true measure of Bob’s leadership and the resulting success since he became CEO, I ask myself two questions: Is Goodyear in better shape today as a company? And, is Goodyear better positioned for the future? The answer to both of those questions is an unequivocal yes.”
Kramer said his confidence is supported by the company’s very strong portfolio of brands, strength in high-growth emerging markets, innovative new product offerings, industry-leading retailer network and enhanced supply chain capabilities. While the company’s 2009 financial results reflected the impact of the global recession, he noted many major accomplishments achieved during the year position Goodyear for future success.
Kramer previously served Goodyear as its chief operating officer since June 2009 and spent three years leading the company’s North American tire business with a focus on customers and new product and process innovation. Prior to that, he spent three years as executive vice president and chief financial officer. Kramer joined Goodyear as vice president of corporate finance in 2000. He was named senior vice president of strategy in 2003 where he began developing Goodyear’s strategy with Keegan. Prior to joining Goodyear, Kramer spent 13 years with PricewaterhouseCoopers LLP where he served in a variety of roles in the U.S. and Europe, ultimately as partner.
Also at the annual meeting, shareholders re-elected 12 members of the company’s Board of Directors.
Re-elected were: James Boland, former president, CEO and vice chairman, Cavaliers Operating Co., LLC; James Firestone, executive vice president and president, corporate operations, Xerox Corp.; Bob Keegan, chairman, Goodyear; Rich Kramer, president and CEO, Goodyear; W. Alan McCollough, retired chairman and CEO, Circuit City Stores Inc.; Denise Morrison, senior vice president and president, North America Soup, Sauces and Beverages, Campbell Soup Co.; Rodney O’Neal, CEO and president, Delphi Automotive LLP; Shirley Peterson, retired partner, Steptoe & Johnson LLP; Stephanie Streeter, former chairman, president and CEO, Banta Corp.; G. Craig Sullivan, retired chairman and CEO, The Clorox Co.; Thomas Weidemeyer, retired senior vice president and COO, United Parcel Service, Inc.; and Michael R. Wessel, president, The Wessel Group Inc.
