AKRON (March 9)—Goodyear has taken disciplinary action against several senior managers at its European Union unit as part of an ongoing investigation into improper accounting practices at its European and other overseas operations.
The disciplinary actions include separation of some senior managers and the reprimand of other European personnel, the company said. The tire maker would not disclose the names of those disciplined. A spokesman said those disciplined violated the company's business conduct code.
"These actions represent an important milestone toward completing the investigation, which is necessary for us to file our audited financials for 2003," according to Robert W. Tieken, executive vice president and chief financial officer. He said a significant portion of the European review has been completed and Goodyear was making every effort to conclude the probe as soon as possible.