Goodyear Names Jaime Cohen Szulc President, Latin America

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Sep 15, 2010, 09:00 ET

AKRON, Ohio, Sept. 15 /PRNewswire-FirstCall/ -- The Goodyear Tire & Rubber Company (NYSE: GT) today announced the appointment of Jaime Cohen Szulc as President of its Latin American region. Szulc will report directly to Goodyear's Chairman-elect, Chief Executive Officer and President Richard J. Kramer.

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Szulc succeeds Eduardo A. Fortunato, 57, who earlier this year announced his intention to retire at the end of 2010.

"We are delighted to welcome Jaime to our leadership team," said Kramer. "His experience and leadership style are an ideal match for Goodyear and our Latin American business. He is a strong global executive skilled in both business strategy and operational excellence. Jaime is very market-focused and understands the importance of new product innovation in building both consumer excitement and our dealers' businesses. I am confident that under his leadership we will continue to provide innovative solutions for our Latin American customers and grow our businesses together."

Szulc, 48, is a proven leader who has built a track record of outstanding results. He has more than 20 years of international experience working with top consumer brands in companies such as Eastman Kodak Co., S.C. Johnson & Son, Inc. and The Procter & Gamble Co. For the past year Szulc served as Senior Vice President and Global Chief Marketing Officer for Levi Strauss. He has extensive operating experience which includes successfully running strategic business units in Latin America, North America and Europe, delivering growth and profit results in each.

A native Brazilian, who has lived and worked in the United States, Switzerland and Venezuela, Szulc holds a Bachelor of Science degree in Civil Engineering from Escola Politecnica de Universidade de Sao Paulo, Brazil.

"I'm very excited to be joining Goodyear, one of the world's most recognized brands, at a very exciting time in its history," said Szulc. "I look forward to leading our talented and highly engaged Latin American team as we continue to introduce superior products and solutions to energize our customers' businesses. I look forward to working with Eduardo as we transition over the next several months, and I welcome the opportunity to meet, listen to, and learn from our dealers who have done so much to champion the Goodyear brand over the years."

"Under Jaime's leadership, along with the ongoing commitment of our entire Latin American team we will continue to deliver excellent long-term results in the region," said Kramer. "I also want to thank Eduardo for his outstanding 35-year career at Goodyear, and especially for his success in both developing and supporting our Latin American associates and dealers. He has been an outstanding business leader and valued member of the Goodyear team. He will be missed by all."

Goodyear is one of the world's largest tire companies. It employs approximately 70,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear, go to www.goodyear.com.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to realize anticipated savings and operational benefits from our cost reduction initiatives or to implement successfully other strategic initiatives; increases in the prices paid for raw materials and energy; actions and initiatives taken by both current and potential competitors; deteriorating economic conditions or an inability to access capital markets; pension plan funding obligations; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; a labor strike, work stoppage or other similar event; our failure to comply with a material covenant in our debt obligations; the adequacy of our capital expenditures; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

SOURCE The Goodyear Tire & Rubber Company