Goodyear Tire & Rubber Co. has formed a new business unit: Europe, Middle East and Africa. It combines Goodyear's former regions of European Union and Eastern Europe, Middle East and Africa.
The new unit "will be Goodyear's largest in terms of geography and second largest, after North America, in terms of annual sales revenue," say Goodyear officials.
"Annual combined sales revenue for the two regions in 2006 was $6.5 billion."
The new unit will officially form on Feb. 1, 2008.
"While the two former regions are different in terms of approach to the market, there are also many similarities which are increasing, especially with the introduction of the new EU member states," says Goodyear Chairman and CEO Bob Keegan.
"This new organization is structured to accelerate growth and maximize earnings through simplicity, speed and an intense focus on our customers and markets."
Arthur de Bok, formerly president of Goodyear's European Union unit, has been named president of the new group.
