Hired as chairman and CEO of Firestone in 1979, Nevin closed seven tire plants, slashed tens of thousands of jobs and moved Firestone’s corporate headquarters to Chicago in a whirlwind of moves that made him one of the most reviled men in Akron. But the tough decisions he made, while unpopular and controversial, saved a company nearly bankrupted by the massive Firestone 500 tire recall in the mid-1970s, tremendous overcapacity and weak technology. At one point, Firestone was losing $250 million annually, a tremendous sum in the 1970s.
In 1988, after fielding overtures from Pirelli and Bridgestone, Nevin negotiated Bridgestone’s purchase of the Akron tiremaker for a then-unheard-of $88 per share. Shareholders nearly unanimously approved the sale, making instant millionaires out of hundreds of employees and outside shareholders.
After getting an accounting degree from the University of California at Berkeley under the GI Bill, Nevin earned his MBA from Harvard. He started his career with Standard Oil then moved to the Ford Motor Co. in 1954. After 17 years at Ford, Nevin became COO at Zenith Radio Corp., and was elevated to CEO five years later.
After retiring as Firestone chairman in 1990, Nevin became involved with a number of other companies.
He is survived by his wife, Anne; seven children, Stan, John, Rick, Paul, Gerald and Mary Nevin and Marcus Regueira; eight grandchildren; and a sister, Anne Marie Kunz.
The funeral will be held Saturday in Skokie, Ill.
