Richard Kramer has been elected chairman of Goodyear Tire & Rubber Co., succeeding Bob Keegan, who is retiring.
Kramer takes over as board chairman on Oct. 1 and will continue as president and CEO of the tiremaker.
Kramer, 46, succeeded Keegan as president and CEO on April 13. Since coming to Goodyear in 2000, Kramer has served as vice president of corporate finance, senior vice president of strategy, CFO, president of North American Tire and COO.
"This is the next step and a natural evolution of the well-thought-out and orderly succession plan," said Goodyear 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 COO, became president and CEO in January 2003 and chairman of the board in July of that same year.