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Goodyear CEO Mark Stewart steps down as tiremaker begins leadership search
Nov 11, 2026
đź“Ť Phliadelphia,PA, USA
Goodyear Tire & Rubber Company has announced a leadership change as part of its ongoing efforts to improve business performance and strengthen its long-term corporate strategy. Mark Stewart has stepped down as president and chief executive officer with immediate effect, bringing his tenure at the American tire manufacturer to an end amid a broader operational and financial restructuring.
The company announced on November 9 that Roger Wood, a member of Goodyear’s board of directors since July 2023, would assume the positions of interim president and CEO. The board has also initiated a comprehensive search to identify a permanent successor who can lead the company through its next phase of development.
Along with leaving his executive position, Stewart has resigned from Goodyear’s board. The company has not provided a specific explanation for his departure but indicated that the leadership transition is intended to accelerate efforts to improve operational efficiency, strengthen business priorities and increase long-term shareholder value.
Goodyear chairman Joe Hinrichs said the company had already made progress in improving its operational structure and business focus. He added that the board considered the leadership transition an important step toward advancing the company's transformation plans.
The appointment of Roger Wood brings extensive experience in automotive manufacturing and industrial management to Goodyear's leadership. His background includes senior executive positions at several major manufacturing companies, giving him experience in managing large operations, improving business performance and working with automotive manufacturers and aftermarket customers.
Wood previously served as co-chief executive officer of Tenneco Inc. between 2018 and 2020. Before that, he was president and CEO of Dana Holding Corporation from 2011 to 2015, where he led operations in the automotive components industry.
Earlier in his career, Wood spent 26 years at BorgWarner, holding several leadership positions. His responsibilities included serving as executive vice president and group president of the company's Engine group, where he gained considerable experience in manufacturing operations and industrial management.
As interim CEO, Wood will work closely with Goodyear's board, senior management and Enterprise Transformation Office. His immediate responsibilities will include supporting the company's strategic review, improving operational performance and advancing initiatives designed to strengthen its financial position.
The leadership change comes at a challenging period for Goodyear, which has been dealing with declining sales volumes, higher operating expenses and weaker demand in certain tire markets. The company's third-quarter 2026 financial results reflected these pressures, highlighting the need for further operational improvements.
Goodyear reported net sales of approximately $4.5 billion for the third quarter, representing a 2.3% decline compared with the same period last year. Tire unit volumes also decreased by 3.3% to 38.6 million units, indicating softer demand across parts of its business.
The company recorded a net loss of $238 million, a substantial improvement from the $2.2 billion loss reported during the third quarter of 2025. However, its adjusted financial performance remained under pressure, with an adjusted net loss of $31 million compared with adjusted net income of $82 million a year earlier.
Goodyear attributed some of its operating difficulties in the Americas to lower factory utilization, inflationary pressures and additional operating expenses. Weaker demand for replacement tires also contributed to the company's business challenges, making it increasingly important to improve manufacturing efficiency and manage costs.
To address these concerns, Goodyear has established a dedicated Enterprise Transformation Office to identify opportunities for improving its operations and financial performance. The initiative is focused on strengthening cash generation, improving investment returns and evaluating the company's overall business structure.
The board's special committee is also examining potential changes to Goodyear's business portfolio and manufacturing footprint. The review includes evaluating investment priorities, developing new products and identifying capabilities that could improve the company's competitiveness in the global tire industry.
Mark Stewart joined Goodyear in January 2024, succeeding Richard J. Kramer, who retired after spending 24 years with the company, including 14 years as chairman, president and CEO. Stewart entered the position with considerable experience in automotive manufacturing, supply chain management and large-scale business operations.
Before joining Goodyear, Stewart served as chief operating officer of North America at Stellantis and was a member of its Group Executive Council. During his tenure, he managed a business organization with more than 88,000 employees and annual revenue exceeding $90 billion.
He also previously worked at Amazon as vice president of customer fulfillment, overseeing operations across approximately 200 facilities in North America. His earlier professional experience included senior management responsibilities at automotive suppliers ZF TRW Automotive and Tower Automotive.
Originally from Madison, Alabama, Stewart earned a bachelor's degree in electrical and electronics engineering from Vanderbilt University and an MBA from the University of Tennessee-Knoxville. His departure was classified in Goodyear's November 9 filing with the U.S. Securities and Exchange Commission as a termination other than for cause under the company's executive severance and change-in-control plan.
Goodyear's leadership transition represents another significant development in its efforts to reshape its business amid changing market conditions and financial pressures. With Roger Wood taking temporary charge, the company is expected to continue reviewing its manufacturing operations, business priorities and cost structure while searching for a permanent chief executive.
The outcome of these changes will be important as Goodyear works to improve profitability, respond to evolving customer demand and strengthen its position in the highly competitive international tire market.
The company announced on November 9 that Roger Wood, a member of Goodyear’s board of directors since July 2023, would assume the positions of interim president and CEO. The board has also initiated a comprehensive search to identify a permanent successor who can lead the company through its next phase of development.
Along with leaving his executive position, Stewart has resigned from Goodyear’s board. The company has not provided a specific explanation for his departure but indicated that the leadership transition is intended to accelerate efforts to improve operational efficiency, strengthen business priorities and increase long-term shareholder value.
Goodyear chairman Joe Hinrichs said the company had already made progress in improving its operational structure and business focus. He added that the board considered the leadership transition an important step toward advancing the company's transformation plans.
The appointment of Roger Wood brings extensive experience in automotive manufacturing and industrial management to Goodyear's leadership. His background includes senior executive positions at several major manufacturing companies, giving him experience in managing large operations, improving business performance and working with automotive manufacturers and aftermarket customers.
Wood previously served as co-chief executive officer of Tenneco Inc. between 2018 and 2020. Before that, he was president and CEO of Dana Holding Corporation from 2011 to 2015, where he led operations in the automotive components industry.
Earlier in his career, Wood spent 26 years at BorgWarner, holding several leadership positions. His responsibilities included serving as executive vice president and group president of the company's Engine group, where he gained considerable experience in manufacturing operations and industrial management.
As interim CEO, Wood will work closely with Goodyear's board, senior management and Enterprise Transformation Office. His immediate responsibilities will include supporting the company's strategic review, improving operational performance and advancing initiatives designed to strengthen its financial position.
The leadership change comes at a challenging period for Goodyear, which has been dealing with declining sales volumes, higher operating expenses and weaker demand in certain tire markets. The company's third-quarter 2026 financial results reflected these pressures, highlighting the need for further operational improvements.
Goodyear reported net sales of approximately $4.5 billion for the third quarter, representing a 2.3% decline compared with the same period last year. Tire unit volumes also decreased by 3.3% to 38.6 million units, indicating softer demand across parts of its business.
The company recorded a net loss of $238 million, a substantial improvement from the $2.2 billion loss reported during the third quarter of 2025. However, its adjusted financial performance remained under pressure, with an adjusted net loss of $31 million compared with adjusted net income of $82 million a year earlier.
Goodyear attributed some of its operating difficulties in the Americas to lower factory utilization, inflationary pressures and additional operating expenses. Weaker demand for replacement tires also contributed to the company's business challenges, making it increasingly important to improve manufacturing efficiency and manage costs.
To address these concerns, Goodyear has established a dedicated Enterprise Transformation Office to identify opportunities for improving its operations and financial performance. The initiative is focused on strengthening cash generation, improving investment returns and evaluating the company's overall business structure.
The board's special committee is also examining potential changes to Goodyear's business portfolio and manufacturing footprint. The review includes evaluating investment priorities, developing new products and identifying capabilities that could improve the company's competitiveness in the global tire industry.
Mark Stewart joined Goodyear in January 2024, succeeding Richard J. Kramer, who retired after spending 24 years with the company, including 14 years as chairman, president and CEO. Stewart entered the position with considerable experience in automotive manufacturing, supply chain management and large-scale business operations.
Before joining Goodyear, Stewart served as chief operating officer of North America at Stellantis and was a member of its Group Executive Council. During his tenure, he managed a business organization with more than 88,000 employees and annual revenue exceeding $90 billion.
He also previously worked at Amazon as vice president of customer fulfillment, overseeing operations across approximately 200 facilities in North America. His earlier professional experience included senior management responsibilities at automotive suppliers ZF TRW Automotive and Tower Automotive.
Originally from Madison, Alabama, Stewart earned a bachelor's degree in electrical and electronics engineering from Vanderbilt University and an MBA from the University of Tennessee-Knoxville. His departure was classified in Goodyear's November 9 filing with the U.S. Securities and Exchange Commission as a termination other than for cause under the company's executive severance and change-in-control plan.
Goodyear's leadership transition represents another significant development in its efforts to reshape its business amid changing market conditions and financial pressures. With Roger Wood taking temporary charge, the company is expected to continue reviewing its manufacturing operations, business priorities and cost structure while searching for a permanent chief executive.
The outcome of these changes will be important as Goodyear works to improve profitability, respond to evolving customer demand and strengthen its position in the highly competitive international tire market.
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