Goodyear Tire (GT) Announces Transformation Plan "Goodyear Forward"
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Elliott-stock Goodyear Tire gains as it seeks to shed assets, cut costs under a new CEO
November 15, 2023 7:38 AM ESTGoodyear Tire (NASDAQ: GT), a stock owned by activist hedge fund Elliott Investment Management, gained over 8% in early trading Wednesday after announcing a transformational plan that seeks to shed $2 billion in assets and reduce costs by $1 billion, among other action items. The company also announced that Richard Kramer will retire as Chairman, CEO and President of the Company in 2024.
Goodyear said after a thorough evaluation of all... More
