Goodyear names Wells CFO

Tire Business staff report

Akron, Ohio - Goodyear has named Darren Wells chief financial officer, replacing W. Mark Schmitz, who has left the company to pursue other interests.

Schmitz, 57, served the company as cfo for the past 14 months. Mr. Wells, 42, previously served as senior vice president of finance and strategy. He was one of the leaders and architects of the company´s financial restructuring since he joined the company from Visteon Corp. six years ago as Goodyear´s vice president and treasurer.

The appointment is effective immediately, according to Robert Keegan, chairman and ceo.

Wells was promoted to senior vice president, business development and treasurer in May 2005, and to his most recent position in March 2007.

“The innovative plans to restructure our balance sheet executed under Darren's leadership served as the foundation of the company´s rebirth as a stronger, more respected competitor in the tire industry,” Mr. Keegan said. “As chief financial officer, Darren will use his outstanding business and financial skills and strong leadership capabilities to generate shareholder value.”

Schmitz was previously with Tyco International´s Fire and Security segment as vice president and chief financial officer for four years prior to joining Goodyear.

“We appreciate Mark´s contributions during a challenging period in our industry and in the global economy, and wish him well in the next phase of his career,” Mr. Keegan said.

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Original article from Tire Business