Goodyear CEO Mark Stewart Extends Turnaround Plan to Address Debt and Improve Operating Margins
Goodyear Tire & Rubber CEO Mark Stewart has extended the company's "Goodyear Forward" turnaround plan to navigate significant financial hurdles. The company is currently working to restructure, refinance, and reduce a debt load exceeding $7 billion while striving to reach a 10% operating margin. Although the company achieved an 8.5% margin in the fourth quarter of 2025, it remains short of its primary target. Mark Stewart noted that the business faces external pressures from tariffs, high raw material costs, and competition from lower-priced Chinese imports. To improve profitability, the company is cutting $1.5 billion in annualized costs and shifting focus toward the premium tire segment. Additionally, Mark Stewart is overseeing the closure of a North Carolina plant to boost the Americas segment's operating income. To enhance brand appeal, the company is also leveraging its iconic blimps and social media marketing to connect with consumers.