Kramer confident in strategy, says Goodyear has 'momentum'

Goodyear's chairman and CEO, Richard J. Kramer, says he is confident in the company’s business strategy, and he believes the firm is well positioned to achieve its goals.

Kramer says he is pleased with Goodyear’s 2010 performance, which exceeded the company’s targets; financial results reflected significant improvement in all four regional tire divisions, most notably North American Tire’s return to profitability

Among the achievements highlighted by Kramer are:

• Price/mix improvements that offset the impact of higher raw material costs
  
• The high percentage of new products in the company’s overall lineup
  
• Cost actions and fixed cost recovery that flowed to the company’s bottom line
  
• Significant investments in the company’s future growth in targeted market segments

These accomplishments, says Kramer, “are evidence of our positive momentum and give us confidence that, in 2011, we will continue to strengthen our leadership position in the industry.”

He says the company will do this by being first with customers, the leader in targeted market segments and the leader in innovation.

“As confident as I am in our strategies and plans, there’s a critical element that brings them to life. That’s our team. From management to the shop floor, the men and women around the world who represent the Goodyear Tire & Rubber Co. form the best team in the industry,” Kramer adds.

“Our customers, consumers, suppliers and shareholders deserve nothing less. Because of the passion, talent and strength of these 72,000 associates, I continue to look forward with enthusiasm and optimism to a bright future for Goodyear,” he observes.

For more information, visit www.goodyear.com.