Keegan joins Sumitomo board

Goodyear Tire & Rubber Co. Chairman and CEO Bob Keegan has been elected to Sumitomo Rubber Industries Ltd.'s (SRI) board of directors.

Goodyear and SRI have six joint venture businesses -- including tire manufacturing and sales operations -- in North America, Europe and Japan.

One year ago, Goodyear sold 85% of its holdings in SRI for $83.4 million. SRI bought 97.6% of those shares.

Goodyear acquired 10% ownership of SRI in 1999 as part of a $1 billion "global alliance" between the companies.

"Our alliance and partnership with SRI remains strong," said Keegan at the time.