The Goodyear Tire & Rubber Company has announced that Mark Stewart will become the new Chief Executive Officer and President, effective January 29, 2024. Stewart will succeed Richard J. Kramer, who had previously disclosed his retirement plans after 24 years with the company, including 14 years as chairman, CEO and president. Concurrent with Stewart’s appointment, Laurette T. Koellner, who has been the independent lead director of Goodyear’s board since 2019, will become the non-executive board chair. Stewart will also join the Goodyear Board as a director.
Stewart comes to Goodyear from Stellantis, a global automaker, where he served as the chief operating officer (COO) for North America. At Stellantis, he led a unit of over 88,000 employees and achieved more than $90 billion in revenue. During his tenure, he spearheaded the region’s electric vehicle (EV) transformation and was responsible for introducing the first electrified Jeep in the U.S. market, which has been the top-selling plug-in hybrid EV for three consecutive years. Stewart’s leadership also saw significant increases in margin and cash flow, despite challenges like the semiconductor shortage and a competitive U.S. market.
Before Stellantis, Stewart was the vice president of customer fulfillment at Amazon, overseeing customer fulfillment across 200 operations facilities in North America. His career also includes a stint as executive vice president and COO for ZF TRW Automotive, culminating from more than two decades of ascending roles in the industry. Stewart’s global experience spans various countries, including the U.S., Belgium, Germany and China.
In announcing the appointment, Koellner said, “Following an ongoing and active succession planning process culminating in a comprehensive search, the board is confident Mark is the ideal CEO for Goodyear as we continue executing against the Goodyear Forward plan.” She highlighted Stewart’s track record in driving innovation and commercial excellence, as well as his international experience and operational expertise.
Stewart expressed his enthusiasm for the new role: “I am honored and humbled to join Goodyear at such a pivotal time in its history,” he said. He commended the achievements of Kramer and the Goodyear team and looked forward to working with them to drive sustainable value.
Koellner thanked Kramer for his leadership and dedication to Goodyear, noting his commitment to setting the company up for future success. Kramer reflected on his tenure, saying, “It has been an honor and privilege to lead this great company during my 14 years as CEO.” He plans to work with Stewart to ensure a smooth transition and will continue to serve Goodyear in an advisory capacity.
