AKRON (June 3, 2004) — Goodyear Chairman and CEO Robert Keegan received a bonus of $509,200 in 2003, his first full year as CEO of the Akron-based tire maker.
Mr. Keegan's salary also increased to $1 million from $840,000 in 2002, according to Goodyear. Mr. Keegan did not receive a bonus in 2002. In 2001, when his salary as president was $826,667, Mr. Keegan received a bonus of $566,724. He was named CEO in late 2002 and chairman in mid-2003.
The figures were published in Goodyear's annual proxy statement for investors.
In addition, Goodyear said Mr. Keegan's predecessor, Samir Gibara, was retained as a consultant throughout 2003. Under the agreement, Goodyear said, Mr. Gibara provided assistance and advice to the company and received $180,000 paid in equal monthly installments.
In 2003 Goodyear reported a net loss of $802.1 million though sales rose to a record $15.1 billion for the year—a 9.1-percent increase from 2002.