Boston, MA 10/22/2013 (wallstreetpr) – Late in September, Deutsche Bank analysts predicted that The Goodyear Tire & Rubber Company (NASDAQ:GT) shares would trade at around $29 per share up from $23. Of late this figure has been revised by the same firm down to $26 from $29 per share. This is still a plus for the company even though to a lesser margin.
With the company intending to indulge into the higher end tire market it made some changes to its management to help them better follow through with their plans. This saw former Executive vice president and chief financial officer Darren R. Wells move to head the Europe, Middle East and Africa business unit (EMEA).
Mr. Wells’ position was taken over by Laura K. Thompson. Laura was formerly the senior vice president of business development. Damon J. Audia was appointed to head the position left by Laura. Finally 51 year old Arthur de Bok was moved to senior vice president with the responsibility of heading the sales and marketing department.
The company’s chairman and CEO Richard J. Kramer said that the succession moves would help them to stay on the Strategy Roadmap and maintain positive moments. The succession moves were made after an approval by the company’s Board.
The company was also named the Thompson Reuters Top 100 Global Innovator recognizing the company as one of the most innovative companies in the world for the third time in a row. This is further evidenced by the fact that Goodyear Tire and Rubber Company is the sole tire manufacturer for the NASCAR. For over 15 years, the company has supplied the elite race with handmade tires to suit the different types of roads for the race as well as the cars. The sensitivity and crucial nature of the tires as explained by the drivers means that the company conducts constant research and makes use of the latest technology to be able to stay on top.
