AKRON, Ohio - Troubled tire maker Goodyear Tire & Rubber Co. on Wednesday said its newly appointed chief executive, Robert Keegan, will assume the additional title of company chairman, effective June 30.
Samir Gibara, 64, Goodyear's current chairman, will step down from the post as part of a planned management transition that began in October when Keegan, 55, was named CEO and president, Goodyear said.
Keegan, who officially assumed the top spot in January, is under pressure to turn around the tire maker's flagging fortunes after two years of losses.
At Goodyear's annual meeting Wednesday, shareholders approved a company proposal requiring the board of directors to comprise between nine and 15 members, down from 11 to 19 directors previously.
About 250 shareholders turned out for the meeting, held in Akron, Ohio, where the company is based.