FINDLAY, Ohio—In recognition of contributions and achievements of retiring Cooper Tire & Rubber Co. CEO Roy Armes, the Cooper Tire & Rubber Foundation has established a scholarship in his name.
“Roy greatly values education and believes that leadership skills are an essential element for young people to possess in today's global economy. We could not think of a better way to honor his many accomplishments and contributions than to establish a scholarship in his name that will be awarded in perpetuity, assuring a lasting legacy,” said Brad Hughes, Cooper's chief operating officer, who will assume the role of president and CEO upon Armes' retirement.
The new Roy V. Armes scholarship will be awarded to children of Cooper employees. It will provide $5,000 to graduating high school seniors planning to attend a four-year college or university and major in business or engineering. Each year, one student will be selected for the award upon meeting the scholarship criteria and submitting an essay on leadership, a topic that Armes championed for decades, according to Cooper.
The first Roy V. Armes scholarship will be awarded in 2017 and will be administered by the Findlay-Hancock County Community Foundation, an independent philanthropic agency that manages more than 350 funds, including more than 100 scholarships.
Armes will retire on Aug. 31.