Leadership Transition at Goodyear
The Goodyear Tire & Rubber Company announced on November 9, 2026, that Mark Stewart has stepped down from his roles as chief executive officer, president, and member of the board of directors, effective immediately. The company’s board has appointed Roger Wood, who has served as a director since 2023, to act as interim CEO. This sudden leadership change follows a series of financial challenges and missed performance targets that have pressured the Akron-based manufacturer.
The transition arrives at a critical juncture for the organization. According to recent financial disclosures, Goodyear reported a third-quarter adjusted net loss of $31 million, a sharp reversal from the $82 million in adjusted net income recorded during the same period in 2025. Segment operating income for the third quarter of 2026 reached $174 million, representing a significant decline from the $287 million reported one year prior. The company has faced substantial headwinds, including $69 million in inflation costs, $29 million in raw-material expenses, and $8 million tied to tariff impacts, alongside heightened competition from Chinese manufacturers.
Strategic Review and Operational Focus
Goodyear has been engaged in a rigorous strategic review conducted by a special committee of the board, which was formed earlier this year to address performance gaps and drive long-term shareholder value. The review is tasked with evaluating the company’s global business mix, operational footprint, and efficiency initiatives. As part of this broader transformation, the company previously announced plans to close chemical manufacturing plants in Niagara Falls, New York, and near Houston by the end of 2027.
Roger Wood, formerly the co-CEO of Tenneco Inc. and a veteran with over three decades of experience in the automotive and manufacturing sectors, brings deep operational expertise to the interim role. “Goodyear has iconic brands, talented people and significant opportunities to improve performance and deliver long-term value,” Wood stated. His immediate objectives include sharpening execution, supporting associates and customers, and collaborating with the Enterprise Transformation Office to translate the ongoing strategic review into concrete operational actions. With his transition to the interim CEO position, Wood is stepping down from his role as chair of the board’s human capital and compensation committee.
Next Steps for the Organization
The board of directors is currently working with a leading executive search firm to identify a permanent successor for the CEO position. While the search remains ongoing, the company is preparing for further management shifts. Jerome Rouquet is set to join the organization as executive vice president and chief financial officer on December 1, 2026, succeeding interim CFO Scott Deakin. Rouquet, currently the CFO of Visteon Corporation, brings extensive financial leadership experience from his previous tenures at Tenneco and Federal-Mogul.
Goodyear, which employs approximately 60,000 people and operates 46 manufacturing facilities across 19 countries, remains focused on its transformation plan. Board Chair Joe Hinrichs emphasized that the leadership change is intended to accelerate the company’s progress toward becoming a more focused and efficient entity. Goodyear officials indicated that the company does not intend to provide further updates regarding the status of the strategic review or the search for a permanent CEO until the board determines that additional disclosure is necessary.
Reporting source: tractionnews.com.