AKRON — After a year with arguable highs — a 125th anniversary celebration, the ongoing integration of Cooper Tire & Rubber — and lows — natural disasters, fires, job cuts, plant closures, dissatisfied investors — Goodyear is ending 2023 with a plan for a future.
Goodyear disclosed its "Goodyear Forward" reorganization plan — created by the strategic and operational review committee of Goodyear's board of directors — Nov. 15, the same day Chairman, President and CEO Richard Kramer announced his retirement.
The plan, among other cost-cutting measures, calls for divesting the Dunlop brand, which has been part of Goodyear's portfolio since 1999, as well as its off-the-road tire and chemicals businesses.
Kramer said disengaging those units would result in more than $2 billion in gross proceeds.
Here's closer look at Goodyear Forward and its impact on the tire industry: