Goodyear appoints interim CEO as quarterly loss deepens
Goodyear Tire & Rubber Co. announced that chief executive Mark Stewart has resigned and board member Roger Wood will serve as interim CEO and president. The company reported third‑quarter net sales fell 2.3% year over year and posted an adjusted net loss of $31 million, while missing its target 10% operating margin for the previous year. Shares slipped about 4% in early trading on Monday as the firm begins a search for a permanent chief executive.
Key facts
- Mark Stewart's resignation is effective immediately.
- Roger Wood, a board member, takes over as interim chief executive.
- Adjusted net loss for Q3 totals $31 million.
- Operating margin target of 10% was not met by year‑end.
- Goodyear's stock price dropped about 4% in early Monday trading.
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Why it matters
Leadership change and weak results raise uncertainty for Goodyear's turnaround plan.
What changed
First published from CNBC