FINDLAY, Ohio (Aug. 3, 2006) — Thomas Dattilo, chairman, president and CEO of Cooper Tire & Rubber Co., has resigned from the Findlay-based tire maker to pursue another opportunity, the firm said.
Byron Pond, a member of Cooper's board since 1998, has been elected interim CEO and will serve in the post until a permanent replacement is found, Cooper said.
Mr. Dattilo joined Cooper in 1999 as president and chief operating officer. He became chairman in 2000.
Cooper made the announcement this morning as it also reported its second quarter results. Cooper posted a net loss of $21 million as well as an operating loss of $26 million on sales of $625 million.
Mr. Pond will be joined by two other directors, Arthur Aronson and John Shuey, in the office of the chairman, which will oversee governance of the company during the executive search.
“We appreciate Thomas Dattilo's service to the company,” the board said in a statement. “Under Mr. Dattilo's stewardship, the company experienced revenue growth worldwide and expanded aggressively into China through the acquisition of Chengshang Tire Co. Ltd. and a greenfield joint venture with Kenda Rubber Industrial Co. Ltd. We wish him only the best.
“We are committed to finding a permanent successor who will continue to implement the company's strategy and work aggressively to improve operating margins through profitable growth, cost improvement and exceptional customer service,” the board added.