Gibara to step down as Goodyear chairman

May 7, 2003

Sam Gibara is stepping down as Goodyear Tire & Rubber Co.'s chairman on June 30. He will be replaced by CEO and President Robert Keegan.

The announcement was made at Goodyear's annual shareholders meeting in Akron, Ohio, this morning.

Gibara, 64, has been with the company for 37 years. He was named Goodyear's chairman on July 1, 1996.

"We are now completing the transition plan that we laid out when Bob Keegan joined Goodyear in October 2000," says Gibara.

"Over the course of these two years, Bob has quickly learned the industry and demonstrated his leadership abilities. He has effectively taken on the leadership role as CEO since January and has earned the confidence of the board, the company's leadership, customers and associates."

Keegan, 55, says he welcomes and appreciates the opportunity Goodyear's board has given him.

"Our challenges are clear and I have full confidence that we have the people, the products

and the plan, along with important momentum to meet those challenges."