Goodyear CFO Zamarro Exits Mid-Transformation, Interim Named

Goodyear Tire & Rubber is one of the world's largest tire companies, employing about 63,000 people and operating 49 manufacturing facilities across 19 countries. The Akron, Ohio-based company has been executing a sweeping cost-reduction and portfolio-simplification program called Goodyear Forward, which it launched in 2023. That plan has generated $1.5 billion in annualized run-rate savings and was completed on asset-sale targets — the company divested its off-the-road tire business, the Dunlop brand, and its polymer chemical business for combined gross proceeds of roughly $2.2 billion.

Despite those operational gains, the financial picture remains strained. Full-year 2025 brought a GAAP net loss of $1.721 billion, largely attributable to a $1.5 billion non-cash deferred tax asset valuation allowance and a $674 million goodwill impairment charge; adjusted net income for the year was $136 million, down sharply from $278 million in 2024. The first quarter of 2026 produced a net loss of $249 million and an adjusted net loss of $112 million, compared with an adjusted net loss of $11 million in the same period a year earlier. Segment operating income of $95 million in Q1 2026 was less than half the $195 million recorded a year ago.

The company's credit profile reflects the pressure. On June 4, 2026, Goodyear priced $1.05 billion in aggregate principal of new 8.875% Senior Notes due 2032, with proceeds earmarked to retire $700 million of 4.875% notes and $117 million of 7.625% notes both maturing March 15, 2027. The new notes carry a coupon more than four percentage points higher than the paper they replace.