AKRON, OH — Shareholders of Goodyear Tire & Rubber Co. have announced their selections for the company’s board of directors.
Robert Keegan, chairman and CEO of the Akron, Ohio-based tiremaker, has been re-elected to serve another three year term, earning 84.5 percent of the company’s shareholders votes.
Keegan’s re-election is seen as a positive indicator of improvement for the tiremaker. Keegan has led Goodyear through a difficult period during which the company eliminated 6,000 jobs and lost $280 million in accounting errors. During that time, its shares plummeted to a low of $3.67 last year. In early trading Wednesday, shares were up 8 cents to $9.22 on the New York Stock Exchange.
Board directors Rodney O’Neal and Shirley Peterson have also been elected to serve three-year terms on the company’s board. John Breen was elected to serve the remaining year of a three-year term on the board.
O’Neal is president, dynamics, propulsion, thermal and interior sector at Delphi Corp. Peterson is a retired former partner in the law firm of Steptoe & Johnson LLP and has held a number of senior government positions, including commissioner of the Internal Revenue Service. Breen is a retired chairman of The Sherwin-Williams Co.
The company’s other directors, whose terms continue, are:
Susan Arnold, Gary Forsee and William Hudson, whose terms expire at the 2005 annual meeting.
James Boland, Steven Minter and James Zimmerman, whose terms expire at the 2006 annual meeting.
In addition, Goodyear announced that director Agnar Pytte retired from the board during yesterday’s meeting.
For more information about Goodyear, go to: www.goodyear.com.
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