Goodyear Appoints Roger Wood as Interim CEO Following Mark Stewart’s Departure

The Goodyear Tire & Rubber Company has appointed Roger Wood, a member of its board of directors, as interim chief executive officer. Wood will lead the company while the board searches for a permanent successor. Mark Stewart stepped down as CEO and president and left the company’s board of directors with immediate effect.

A special committee of the board, formed earlier this year, has been conducting a strategic review of the company’s businesses and operations to identify opportunities to strengthen performance and increase shareholder value.

The board and the company are continuing that work by evaluating a range of strategic and operational initiatives. These include further optimising the company’s business mix and footprint, improving efficiency and investing in new products and capabilities that support long-term growth. The company does not intend to provide further updates unless the board determines that additional disclosure is appropriate or required.

Joe Hinrichs, chair of Goodyear’s board of directors, says: “Goodyear has made meaningful progress in becoming a more efficient and focused company, and the board believes this is the right moment to transition leadership to accelerate that progress and capture additional opportunity.

“Roger brings extensive automotive and industrial CEO experience, deep operational expertise and strong relationships across OEMs and aftermarket customers. He knows Goodyear, understands the opportunities ahead and has the board’s full confidence to bring heightened focus and urgency to execution while we conduct a thorough search for a permanent CEO. We thank Mark for his contributions to Goodyear.”

Wood adds: “Goodyear has iconic brands, talented people and significant opportunities to improve performance and deliver long-term value. As I step into this role, my immediate priorities are to support our associates and customers, sharpen execution, and build on the work already underway to advance Goodyear’s transformation.

“I look forward to working closely with the board, leadership team and the Enterprise Transformation Office to advance the strategic review and translate that work into actions that strengthen performance and position Goodyear for long-term success.”

Wood has served on Goodyear’s board since 2023 and brings more than three decades of leadership experience in the automotive and manufacturing industries. He previously served as co-chief executive officer of Tenneco, Inc., a global automotive supplier that designs, manufactures and distributes clean air, powertrain and ride performance systems for original equipment and aftermarket customers. He also serves on the boards of PHINIA Incorporated and Brunswick Corporation.

Following his appointment as interim CEO, Wood is stepping down as chair of the board’s Human Capital & Compensation Committee.