Goodyear CEO Mark Stewart Steps Down as Roger Wood Takes Over
Roger Wood, a Goodyear board member since July 2023, is the company’s interim CEO and president amid pressure from tariffs, raw material costs and competition.
Goodyear CEO Mark Stewart stepped down effective immediately.
By Career Ahead AI · United States — AI-assisted, fact-verified against cited sources. Readers should verify key facts.
Roger Wood Takes Interim Leadership
Stewart also left Goodyear’s presidency and board seat. He had served as CEO since January 2024. The company’s announcement ends his tenure in all three roles, while the immediate departure leaves Roger Wood in charge as interim CEO and president.¹²³⁴
Goodyear appointed Wood, who has served on its board of directors since July 2023. In connection with the appointment, Wood is stepping down as chair of the board’s human capital and compensation committee. The leadership announcement came at 7:30 a.m. Monday in a corporate update from Goodyear.¹²³
Goodyear Chair Joe Hinrichs said the board viewed the timing as right for a leadership transition. Hinrichs said the company had made progress toward becoming more efficient and focused, and described the transition as a way to accelerate that progress and capture additional opportunity.¹³
The leadership announcement came at 7:30 a.m.
Third-Quarter Sales and Operating Income Fell
Goodyear’s third-quarter net sales fell 2.3% year over year to $4.5 billion. The company also reported an adjusted net loss of $31 million, or an adjusted loss of 11 cents per share. The figures show declines in sales alongside a quarterly loss, while providing two different measures of the company’s performance for the period.¹³⁴
Segment operating income was $174 million for the quarter, compared with $287 million a year earlier. The year-over-year comparison puts the quarterly figure against the same measure from the prior year and shows a lower result. Goodyear’s segment operating income figure is separate from the reported net sales and adjusted loss.¹³⁴
The company continues to face pressure from tariffs, higher raw material costs and increased competition from China. Goodyear also failed to reach a 10% operating margin by the end of last year. Those pressures and the missed margin target form part of the business conditions surrounding the leadership change.¹³⁴
Goodyear formed a special committee of its board earlier this year to conduct a strategic review of the company’s businesses and operations. The stated focus was identifying opportunities to strengthen performance and drive shareholder value. The review gives the board a formal process for examining the company’s operations while it changes its senior leadership.¹³
Wood brings more than three decades of automotive and manufacturing leadership experience. His previous roles include co-CEO of Tenneco and CEO of Dana Holding Corporation. He also serves on the boards of PHINIA Incorporated and Brunswick Corporation, adding board experience at other companies to his Goodyear directorship.¹³
The Board Is Reviewing Goodyear’s Businesses
Goodyear formed a special committee of its board earlier this year to conduct a strategic review of the company’s businesses and operations.
Before joining Goodyear, Mark Stewart was named CEO after Richard Kramer, Goodyear’s long-time top boss. Stewart had led Stellantis’s EV transformation in North America. Kramer had announced his retirement after leading the tire manufacturer for 14 years and continued to serve Goodyear in an advisory capacity.¹³⁴
Goodyear Also Plans Plant Closures
Goodyear announced Jerome Rouquet as executive vice president and chief financial officer, with his appointment dated Dec. Separately, the company plans to close chemical manufacturing plants in Niagara Falls, New York, and near Houston by the end of 2027. The leadership changes and plant plans mark separate actions involving the company’s management and manufacturing operations.¹²³⁴
Goodyear employs about sixty thousand people worldwide and manufactures in forty-six facilities in nineteen countries. It keeps one of its two Innovation Centers in Akron and the other in Colmar-Berg, Luxembourg. Goodyear shares were down roughly 4% in early trading.¹³
Track Turnaround Signs Before Entering
If you are weighing a role at a tire or automotive supplier, note that Goodyear's third-quarter net sales fell 2.3% and segment operating income dropped from $287 million to $174 million. That decline, plus a missed 10% operating margin target, signals a company under cost pressure. Ask in interviews how the business plans to counter tariffs and Chinese competition, and whether your role ties to a turnaround plan or to a shrinking legacy line.¹³⁴
If you work in manufacturing or supply chain, treat those locations as temporary and build skills that transfer to other facilities or industries.
For job security, plan for plant closures. Goodyear intends to close chemical plants in Niagara Falls and near Houston by the end of 2027, so roles tied to those sites carry a defined end date. If you work in manufacturing or supply chain, treat those locations as temporary and build skills that transfer to other facilities or industries. Also watch the strategic review, as a special committee may reshape which businesses survive, affecting which roles stay.¹³
Career Ahead AI is Career Ahead Magazine's in-house AI newsroom, reporting on careers, education, jobs and business. It produces original summaries and analysis drawn from publicly available sources, with those sources credited, and operates under the editorial oversight of the Career Ahead team. AI can make mistakes, so please tell us when something looks wrong. Corrections, copyright or takedown requests…
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