Goodyear Has New CEO ? Maybe !

Kramer Elected to Succeed Keegan as CEO of Goodyear
Associated Press, 02.24.10
AKRON, Ohio --

Goodyear says chief operating officer Richard J. Kramer has been elected as chief executive and president effective April 13. Kramer will succeed Robert J. Keegan, who will remain Executive Chairman of the Board. Akron-based Goodyear Tire & Rubber Co. announced the moves Wednesday. The 46-year-old Kramer became COO last June. He spent the previous three years leading the company's North American tire business. The 62-year-old Keegan joined Goodyear in 2000 as chief operating officer. He became president and CEO in 2003 and chairman of the board later that year. Goodyear has about 69,000 employees and has production facilities in 23 countries. Its shares rose 22 cents, or 1.7 percent, to $12.96 in morning trading.

Editorial : This move can be good or it can be bad ! Remember, Keegan hired Kramer ~ Keegan is going to keep his hand in the Company, as Executive Chairman of the Board ! It remains to be seen, how much power he has retained.