Goodyear elects directors, increases board to 12

Akron, Ohio - Goodyear shareholders elected five directors to continuing terms on the company´s board, and the firm named a new board member, bringing the total to 12 directors.

Shareholders elected James Boland, Steven Minter, Michael Wessel, John Breen and William Hudson Jr., to the board at Goodyear´s annual meeting April 11 in Akron. The tyre maker also announced the addition to the board of G. Craig Sullivan, former chairman and CEO of Clorox Co.

Also at the meeting, shareholders adopted a proposal requiring the annual election of directors. All 12 directors´ terms will expire at the 2007 annual meeting. Shareholders also approved the appointment of PricewaterhouseCoopers LLP as Goodyear´s independent accounting firm.

In comments to shareholders, Chairman and CEO Robert Keegan reiterated the company´s accomplishments since 2003.

"However, we fully recognise the challenges that lie ahead in a mature, highly competitive industry that is sensitive to the impact of volatile raw material prices and rising health care and pension concerns," he said.

From Rubber & Plastics News (A Crain publication)

Press release from Goodyear