Kramer Named Goodyear COO

AKRON, Ohio (AP) -- Goodyear Tire & Rubber Co. said Thursday its board has named Richard J. Kramer the company's chief operating officer, a new role that Kramer will hold as he continues as president of Goodyear's North American tire business until his successor in that post is named.

Kramer's appointment as COO reporting to Chairman and Chief Executive Officer Robert J. Keegan takes effect immediately.

Kramer, 45, joined Akron-based Goodyear as vice president of corporate finance in 2000 after 13 years with PricewaterhouseCoopers, where he served in a variety of roles in the U.S. and Europe. In 2004, Kramer was elected chief financial officer and executive vice president at Goodyear. He assumed his current post running Goodyear's North American tire business in March 2007.

North American Tire is the company's largest business unit, with 2008 sales of $8.3 billion, or 42 percent of the company's $19.5 billion in annual sales.

"Rich's appointment as chief operating officer reflects our game plan of having a laser focus on operations globally during these extraordinary times," Keegan said.

Goodyear shares rose 18 cents to $11.99 in morning trading.