Retail

Goodyear hit multiple milestones, Kramer says

Posted on April 15, 2014
“Without the shadow of the unfunded pension obligation, we can now both invest in our business and provide returns to our shareholders,” Kramer said.

“Without the shadow of the unfunded pension obligation, we can now both invest in our business and provide returns to our shareholders,” Kramer said.

At its annual shareholders meeting, Goodyear Tire & Rubber Co. Chairman and Chief Executive Officer Richard Kramer reported the company achieved many milestones in 2013, a year that was unlike any other in its 115-year history.

The company achieved record segment operating income and strong cash flow, which enabled Goodyear to reinstate a dividend on its common stock after 10 years and fully fund its U.S. pension plans.

“Without the shadow of the unfunded pension obligation, we can now both invest in our business and provide returns to our shareholders,” Kramer said. “We’re confident that the soundness of our strategy, our ability to execute against that strategy and the performance of our teams around the globe will continue to provide momentum toward our destination of delivering sustainable economic value for the long term.”

Kramer also noted Goodyear’s recent recognition by Fortune magazine as the world’s “Most Admired” motor vehicle parts company based on factors including financial performance, innovation, product quality and social responsibility. “The companies on the Fortune list share many of the same attributes -- sustainable earnings, a focus on innovation, strong cultures and great brands,” he said. “We see this honor as another validation of our progress and our competitive advantages.”

During the meeting, shareholders re-elected 12 members of the company’s board of directors to new one-year terms. 

Shareholders also voted to ratify the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2014. A shareholder proposal to appoint an independent board chairman was not approved. In an advisory vote, shareholders approved the compensation of the company’s named executive officers.

For more information, see www.goodyear.com/corporate.

Related Topics: financials, Goodyear Tire & Rubber Co., Richard Kramer, shareholders meeting

Comments ( 0 )
More Stories
Scott Clark says consumers are replacing tires before they're fully worn, which costs them money, and brings environmental consequences as well.
News Michelin Seeks Industry Standards for Testing of Worn Tires

Michelin North America Inc. is using its stage at the North American International Auto Show in Detroit to talk about worn tires, and the company wants tire dealers and the entire tire industry to follow its lead.

Matt Leeper from Falken Tire, left, presented a grand prize motorcycle to Ron Barlow from FTC Enterprises during the final dinner of the K&M Tire 2018 Dealer Conference.
News K&M Tire Dealers Learn Sales, Customer Service and Efficiency Tips

K&M Tire Inc. founder Ken Langhals likes to remind his 600-plus employees that a customer’s tire order one day doesn’t guarantee another order the next. And that means K&M’s annual dealer conference is an opportunity to provide dealers with help and extra services that set K&M apart from other wholesalers.

Article An Insight into Tires and Their Problems in Europe

The National Tyre Distributors Association (NTDA) recently held its annual conference, which, although traditionally staged in the UK, represents the ongoing current issues in the tire industry throughout Europe (at least until the Brexit negotiations are completed) and attracts an extensive and diverse range of delegates.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!