Deals
Goodyear Launches Review, Names Elliott-Backed Directors
- Review said to perhaps lead to transactions like asset sales
- Tiremaker’s new directors include CSX CEO Joseph Hinrichs
A Goodyear tire.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Goodyear Tire & Rubber Co. said it will appoint new board members and launch a review of its business as part of a settlement with activist Elliott Investment Management.
The Akron, Ohio-based manufacturer is setting up a board committee to oversee a review of strategic and operational alternatives to maximize shareholder value, it said in a statement Tuesday. Evercore Inc., Lazard Ltd. and Goldman Sachs Group Inc. are serving as financial advisers to Goodyear.