Mark Stewart will be the next CEO and President of Goodyear Tire and Rubber Company, the company announced Thursday morning.
He will succeed current CEO and President Richard J. Kramer, who previously announced his plan to retire from the company in November. Independent Lead Director Laurette Koellner will replace Kramer as the next Board Chair.
“I am honored and humbled to join Goodyear at such a pivotal time in its history," Stewart said in a statement. "I have deep respect and admiration for everything Rich and the Goodyear team have accomplished together. Goodyear is an iconic company with an unmatched brand, industry-leading innovation and significant opportunity for growth."
On X, formerly known as Twitter, Akron Mayor Shammas Malik congratulated Stewart on being named CEO.
"Goodyear and Akron have a shared history and a partnership that continues to make both of us stronger," he said. "I look forward to working with Mark in the years ahead."
Stewart takes the helm as CEO Jan. 29, and he also will be added to the board as Director, according to a press release. He comes to Goodyear from Stellantis, where he served as Chief Operating Officer of North America and a member of the Group Executive Council. He led a business unit with more than 88,000 employees and more than $90 billion in revenue. He shepherded the region's electric vehicle transformation and helped introduce the first electric Jeep in the United States market.
Before Stellantis, Stewart served as vice president of customer fulfillment at Amazon.com and as Executive Vice President and COO of ZF TRW Automotive, a global supplier of automotive systems, according to Goodyear. During his time at ZF TRW Automotive, he oversaw manufacturing and fulfillment operations around the world.
“Following an ongoing and active succession planning process culminating in a comprehensive search, the board is confident Mark is the ideal CEO for Goodyear as we continue executing against the Goodyear Forward plan," Koellner said in a statement.
Goodyear announced its transformation plan in November, with the goal of creating a more profitable business, according to its website.
“The Review Committee explored all value maximizing opportunities and identified specific, detailed initiatives to streamline our portfolio, expand margins and fortify our balance sheet, and do so with expediency," Kramer said in a statement at the time.
Stewart takes the reigns from Kramer, who worked for Goodyear for 24 years, 14 of which he served as CEO, President and Chair, according to the company. Kramer will stay on at Goodyear in an advisory capacity to ensure a smooth transition.
