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
News

Judge Declares Overtime Ruling Is 'Unlawful' For Now

On May 18, 2016, the Department of Labor’s final rule updating the overtime regulations was published by President Barack Obama and Secretary of Labor Thomas Perez. The ruling automatically extended overtime pay protections to more than 4 million workers within the first year of implementation.

Tire Pros is urging communities to buy from local retailers on Small Business Saturday. This year's day dedicated to locally owned small businesses is Nov. 26.
News

Tire Pros Supports Small Business Saturday With General Tires Rebate

American Tire Distributors Inc.’s Tire Pros franchise is partnering with Independent We Stand to support Small Business Saturday on Nov. 26. To help drive traffic to member stores, Tire Pros is offering a consumer rebate on General brand passenger and light truck tires. 

News

New Jersey Assembly Helps Define Unsafe Used Tires

The New Jersey Assembly has left no doubt as to its view on unsafe used tires. By a vote of 72-0 on Nov. 21, it unanimously passed legislation to prohibit the sale of unsafe used tires that pose a risk to New Jersey motorists and the public.

News

New Date Set for China Tire Show

The organizers of the China International Tire Expo (CITEXPO) have set a new date for the 2017 event: August 21, 22, and 23.

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!