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Kramer to become Goodyear chairman in October

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Kramer to become Goodyear chairman in October

Richard Kramer, CEO and president of Goodyear Tire & Rubber Co., will assume the title of Goodyear chairman when current Chairman Bob Keegan retires from the company on Oct. 1, 2010.

Kramer, 46, succeeded Keegan as president and CEO this past April. Since coming to Goodyear in 2000, Kramer has served as vice president of corporate finance, senior vice president of strategy, chief financial officer, president of North American Tire and chief operating officer.  

"This is the next step and a natural evolution of the well-thought-out and orderly succession plan," says Goodyear’s Lead Director James Boland. “Bob Keegan agreed to stay on as executive chairman earlier this year to assist with the transition. Both Bob and the board felt that the time is right to complete the process."

Keegan, 63, joined Goodyear in 2000 as chief operating officer.  He became president and chief executive officer in January 2003 and chairman of the board in July of that same year.

"I can retire with confidence knowing that Goodyear is in good hands,” says Keegan, who also will step down from his position as a Goodyear director on Oct. 1. “Rich has clearly demonstrated his ability to lead the company into the future.”

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