AKRON (July 1)—Goodyear shareholders approved the nomination of four directors, including Chairman and CEO Robert Keegan, during its annual meeting June 30, a business-as-usual session that contrasted the sometimes tense gatherings of past years.
In his remarks, Keegan assured stockholders that the tire maker is making progress in its turnaround.
"Based on the successes that we are experiencing in our global markets and the resulting business momentum, we are encouraged, but we are not satisfied," he said. "We intend to continue building aggressively on that business momentum. We have much work ahead of us."
Keegan, along with Rodney O'Neal and Shirley Peterson, were elected to three-year terms expiring in 2007. O'Neal is president of Delphi Corp.'s Dynamics, Propulsion, Thermal & Interior Sector. Peterson is a retired partner of law firm Steptoe & Johnson L.L.P. Additionally, John Breen, retired chairman of Sherwin-Williams Co., was elected to a one-year term expiring in 2005. Agnar Pytte retired from the board.
Also during the 30-minute meeting, shareholders defeated a poison pill provision. Goodyear's board of directors in February had terminated the plan effective June 1. Shareholders also ratified PricewaterhouseCoopers L.L.P. as the tire maker's independent accountant.