6 Apr 2020
Company chairman, CEO and president Richard Kramer takes 50% pay cut
Akron, Ohio – Goodyear chairman, CEO and president Richard Kramer has taken a 50% reduction in his base salary, in the aftermath of Covid-19 outbreak and unplanned shutdowns.
In an SEC filing 2 April, the US tire & rubber company said it was cutting the base salary of its US associates, including executive officers, by 30%, effective 1 April.
Each elected officer’s base salary will be reduced until at least 30 June, with 20% of their respective total base salary deferred to March 2021.
For Kramer, Goodyear went on to say, 25% of total base salary has been deferred.
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