AKRON, Ohio — Goodyear is expected to name Stellantis executive Mark Stewart as CEO, sister publication Automotive News reported, citing a Bloomberg report.
Stewart would succeed CEO and Chairman Richard Kramer, who announced in November that he was retiring after 14 years leading the company.
The announcement could come as soon as this week, Bloomberg reported.
Stewart, who spent five years as COO of North America at Stellantis, announced he was stepping down from the automaker Tuesday. Stellantis owns Chrysler, Dodge, Fiat, Jeep, Ram and other global automotive brands.
At Fiat Chrysler, Stellantis' predecessor, he oversaw record profits for the company's North American business in 2022. He previously held roles at ZF Friedrichshafen and Amazon.com. Stewart oversaw Stellantis' negotiations with the UAW union during last year's strike.
The CEO shakeup at Goodyear, the world's no. 3 tire maker, came alongside the announcement of a wide-ranging transformation plan, dubbed Goodyear Forward, that includes plans to divest Goodyear's Dunlop brand and its off-the-road tire and chemicals businesses.
Earlier in 2023, Elliott Investment Management L.P., a West Palm Beach, Fla.-based investment firm that holds a 10% stake in the tire maker, demanded changes at Goodyear citing dissatisfaction with what it called Goodyear's poor stock performance. Goodyear's response included appointing new board members and establishing an operational review committee.
Automotive News contributed to this report.