AKRON, Ohio - The Goodyear Tire & Rubber Company (NASDAQ: GT) announced today that Greg Shank has taken over as the senior director of Investor Relations. Shank, who has a long-standing tenure with the company, will directly report to Christina Zamarro, the executive vice president and Chief Financial Officer.
Shank's history with Goodyear spans back to 2008, having held multiple finance-related positions within the company, including a role in investor relations. His most recent position was as director of Financial Planning & Analysis for the Americas business unit. The company credits his extensive knowledge of Goodyear's operations and his strong communication skills as key factors for his appointment to the role.
Christina Zamarro expressed confidence in Shank's abilities to be a valuable asset to the investment community, given his comprehensive understanding of the company's business dynamics. Zamarro also took the opportunity to acknowledge Christian Gadzinski for his contributions to investor relations over the past two years and wished him well as he transitions to a new position within Goodyear's Commercial Tire division in North America.
Goodyear is recognized as one of the leading tire manufacturers globally, employing approximately 74,000 people. It operates 57 facilities across 23 countries and maintains two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg. These centers are dedicated to advancing the technology and performance standards of the tire industry.
The information about this leadership change is based on a press release statement issued by The Goodyear Tire & Rubber Company.
InvestingPro Insights
As The Goodyear Tire & Rubber Company (NASDAQ: GT) welcomes Greg Shank as the new senior director of Investor Relations, stakeholders may be interested in the latest financial data and expert analysis. According to real-time data from InvestingPro, Goodyear operates with a significant debt burden and has been experiencing weak gross profit margins. However, the company remains a prominent player in the Automobile Components industry.
InvestingPro data shows Goodyear with a market capitalization of $3.95 billion and a negative P/E ratio of -8.02, reflecting challenges in profitability. Despite a slight decrease in revenue growth over the last twelve months as of Q3 2023, the company has a Gross Profit Margin of 16.52%, and analysts have revised their earnings upwards for the upcoming period, signaling potential optimism for future financial performance.
InvestingPro Tips suggest that while Goodyear has not been profitable over the last twelve months and is trading at a high EBIT valuation multiple, there is a strong return over the last three months, and analysts predict the company will be profitable this year. Additionally, it's worth noting that Goodyear does not pay a dividend to shareholders, which might be a consideration for income-focused investors.
For those looking to delve deeper into Goodyear's financials and future prospects, InvestingPro offers a wealth of additional tips and metrics. Currently, the InvestingPro subscription is on a special New Year sale with a discount of up to 50%. To further enhance your investment research, use coupon code "SFY24" to get an additional 10% off a 2-year InvestingPro+ subscription, or "SFY241" to get an additional 10% off a 1-year InvestingPro+ subscription. There are numerous additional tips available on InvestingPro that can guide investors in making well-informed decisions.
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