Goodyear appoints Hinrichs, Mitchell, Wood to board; forms strategic/operational review committee
GOODYEAR TIRE & RUBBER CO /OH/
- Joseph R. Hinrichs (CSX CEO), Max H. Mitchell (Crane CEO), Roger J. Wood (former Tenneco Co-CEO) join board effective July 25, 2023.
- Board increases to 15 directors (13 independent); will reduce to 12 by 2024 annual meeting.
- Strategic and Operational Review Committee established, chaired by CEO Richard Kramer, includes Firestone, Williams, Mitchell, Wood.
- Committee to review strategic/operational alternatives; board to announce non-confidential determinations by Nov 15, 2023.
- Elliott agrees to standstill, voting commitments, non-disparagement; rights subject to 2.5% beneficial ownership threshold.