Cooper Tire & Rubber Company recently announced a quarterly dividend of 10.5 cents per share on common stock, payable Sept. 28 to stockholders of record at the close of business on Sept. 4. This will mark the 142nd consecutive quarterly dividend paid by the Ohio-based company, which specializes in the design, manufacture, marketing and sales of passenger car, light truck and medium truck tires.
The company also has announced the appointment of Robert D. Welding as director of the company, effective immediately. Welding is currently president and chief executive officer of Federal Signal Corporation and a member of Federal Signal's board of directors. Prior to joining Federal Signal in 2003, Welding was group president of the BorgWarner Driveline Group, a $1.2 billion global business, and executive vice president of BorgWarner, Inc. He previously served as president and general manager of BorgWarner Transmission Systems, a unit of the Driveline Group. In his 20 years with BorgWarner, Welding held a variety of positions of increasing responsibility in operations and product engineering management. Prior to that, he served in various management and product engineering capacities for General Motors and Volkswagen of America. Welding began his career as a product development engineer in 1970.
Welding earned a bachelor's degree in mechanical engineering from the University of Nebraska and a master's in business administration from the University of Michigan. He also is a graduate of the Harvard Business School Advanced Management Program.
Roy V. Armes, Cooper Tire & Rubber Company president and CEO, says, "Bob Welding brings a wealth of experience at the highest levels in global businesses, and will prove an invaluable resource as a member of the Cooper Tire & Rubber Board of Directors and as Cooper grows its own business around the world."