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Goodyear Tire names Stellantis' Mark Stewart as top boss

Reuters
·1-min read
FILE PHOTO: The Goodyear logo is seen at a tire workshop in Caracas

(Reuters) - Goodyear Tire & Rubber Co named Stellantis executive Mark Stewart as its CEO on Thursday, who will succeed long-time top boss Richard Kramer.

During his tenure at Stellantis, Stewart led the brand's EV transformation in North America.

Bloomberg News on Wednesday first reported that Goodyear would name Stewart as its new CEO following pressure from activist investor Elliott Investment Management L.P.

Elliott did not immediately respond to Reuters' request for comment.

Kramer, who previously announced that he would retire after leading the tire manufacturer for 14 years, will continue to serve Goodyear in an advisory capacity.

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Last year, Goodyear had unveiled initiatives to streamline its business, including pursuing strategic alternatives for its chemical business, Dunlop brand and Off-the-Road equipment tire business.

Separately, on Tuesday, Stellantis had announced that Stewart would be replaced by Carlos Zarlenga to "leverage further improvements" for the brand in North America.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)