United States. Goodyear Tire & Rubber Company has announced that Mark Stewart will become the new Chief Executive Officer and President effective January 29, 2024.
Stewart will succeed Richard J. Kramer, who had previously disclosed his retirement plans after 24 years with the company, including 14 years as chairman, chief executive officer and chairman.
Concurrent with Stewart's appointment, Laurette T. Koellner, who has been an independent senior director of Goodyear's board of directors since 2019, will become the non-executive chair of the board. Stewart will also join Goodyear's Board as a director.
Stewart comes to Goodyear from Stellantis, a global automaker, where he served as chief operating officer (COO) for North America.
At Stellantis, he led a unit of more than 88,000 employees and achieved more than $90 billion in revenue. During his tenure, he spearheaded the transformation of the region's electric vehicles (EVs) and was responsible for introducing the first electrified Jeep to the U.S. market, which has been the best-selling plug-in hybrid EV for three consecutive years.
Stewart's leadership also saw significant increases in margin and cash flow, despite challenges such as semiconductor shortages and a competitive U.S. market.
Prior to Stellantis, Stewart was vice president of customer fulfillment at Amazon, overseeing customer fulfillment at 200 operations facilities in North America. His career also includes a stint as Executive Vice President and Chief Operating Officer of ZF TRW Automotive, culminating more than two decades of upstream roles in the industry. Stewart's global experience spans several countries, including the United States, Belgium, Germany, and China.
In announcing the appointment, Koellner said, "Following an active and ongoing succession planning process that culminated in a thorough search, the board of directors is confident that Mark is the ideal CEO for Goodyear as we continue to execute on the Goodyear Forward plan." He highlighted Stewart's track record in driving innovation and business excellence, as well as its international experience and operational expertise.
Stewart expressed his excitement about the new role: "I am honored and honored to join Goodyear at such a pivotal time in its history." He praised the accomplishments of Kramer and the Goodyear team and looked forward to working with them to drive sustainable value.
Koellner thanked Kramer for his leadership and dedication to Goodyear, highlighting his commitment to setting the company up for future success. Kramer reflected on his tenure, noting, "It has been an honor and privilege to lead this great company during my 14 years as CEO." He plans to work with Stewart to ensure a smooth transition and will continue to serve Goodyear in an advisory capacity.
