From Rubber & Plastics News
Akron, Ohio-Goodyear Tire & Rubber Co. chairman and CEO Robert Keegan received a bonus of $509 200 in 2003, his first full year as CEO of the Akron-based tyre maker.
Keegan's salary also increased to $1 million from $840 000 in 2002, according to Goodyear. Keegan did not receive a bonus in 2002. In 2001, when his salary as president was $826 667, Keegan received a bonus of $566 724. He was named CEO in late 2002 and chairman in mid-2003.
The figures were published in Goodyear's annual proxy statement for investors.
In addition, Goodyear said Keegan's predecessor, Samir Gibara, was retained as a consultant throughout 2003. Under the agreement, Gibara provided assistance and advice to the company and received $180 000 paid in equal monthly installments, the firm said.
In 2003 Goodyear reported a net loss of $802.1 million though sales rose to a record $15.1 billion for the year-a 9.1-percent increase from 2002.