Goodyear Announces Leadership Changes

Rhea-AI Summary

The Goodyear Tire & Rubber Company (NASDAQ: GT) announces leadership changes following its acquisition plan for Cooper Tire. Ryan Patterson, formerly president of Asia Pacific, will now serve as senior vice president for Business Integration to lead the acquisition effort. Nathaniel Madarang, previously managing director of Goodyear China, will take over Patterson's role as president of Asia Pacific. These changes are effective immediately and aim to drive growth and maximize benefits for stakeholders.

Positive

• Ryan Patterson's extensive leadership experience is expected to facilitate the integration of Cooper Tire, potentially enhancing shareholder value.
• Nathaniel Madarang's proven track record in the Asia Pacific region positions him well to drive growth in this important market.

Negative

• None.

AKRON, Ohio, March 4, 2021 /PRNewswire/ -- Following the company's recent announcement of its plans to acquire Cooper Tire, The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that Ryan Patterson, currently president of its Asia Pacific business unit, will lead the integration effort as senior vice president, Business Integration. Nathaniel Madarang, currently managing director of Goodyear China, will succeed Patterson as president of Goodyear Asia Pacific.

"As one of Goodyear's most senior leaders, Ryan Patterson has the depth and experience to lead the integration of our acquisition of Cooper Tire to maximize benefits for our shareholders, customers, consumers and associates," said Richard J. Kramer, chairman, CEO and president. "Ryan is a market-back leader with broad, global perspective. From his leadership roles in Asia, North America and Latin America, he understands all aspects of our business end-to-end, including manufacturing, is deeply familiar with our customers and has served as the lead architect for some of Goodyear's core go-to-market strategies."

"It is also a testament to Ryan's leadership in the Asia Pacific region that we have a strong successor for his current role in Nat Madarang. Nat is a customer-focused leader with deep knowledge of the Asia Pacific region and the tire industry. As the senior leader of our business in China, Nat has been instrumental in reshaping our distribution in this important market and in designing and launching Goodyear's direct-to-retail business model. The China market remains a high priority for Goodyear, and Nat is extremely well-positioned to drive growth there and throughout the region," said Kramer.

Prior to his role in Asia Pacific, Patterson was president of Goodyear's North America Consumer business, where he developed the company's consumer strategy and its focus on high-value segments. He led the creation and implementation of the company's aligned distribution model in North America, and launched goodyear.com, driving e-commerce sales for distributors and dealers. Prior to his work in North America, Patterson worked in several roles of increasing responsibility in Latin America since joining the company in 2002. He is a graduate of Brigham Young University, where he earned his bachelor's degree in Accounting, and Harvard Business School, where he earned his MBA.

Madarang has been with Goodyear since 2008. Prior to his role as managing director of Goodyear China, he was vice president of Finance for Goodyear's Asia Pacific business, and prior to that, vice president of Goodyear's China Consumer business and finance director for Goodyear China. Prior to joining Goodyear, he served in several leadership roles for Procter & Gamble in China and ASEAN.

Both appointments are effective immediately.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

 

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What are the recent leadership changes at Goodyear (GT)?

Goodyear has appointed Ryan Patterson as senior vice president for Business Integration to lead the Cooper Tire acquisition, and Nathaniel Madarang will become president of Asia Pacific.

What is the background of Ryan Patterson, the new senior vice president at Goodyear (GT)?

Ryan Patterson has previously served as president of Goodyear's North America Consumer business, focusing on consumer strategies and e-commerce growth.

How does Nathaniel Madarang's experience benefit Goodyear (GT)?

Madarang has deep knowledge of the Asia Pacific region and has reshaped distribution in China, making him well-suited to drive regional growth.

When did the leadership changes at Goodyear (GT) take effect?

Both appointments are effective immediately as of the announcement on March 4, 2021.