Who Owns Goodyear Tires? – Goodyear Tires History

If you’re wondering who owns Goodyear Tires, you’ve come to the right place. To answer your question, Goodyear Tires has been an independent company since its inception in 1889. It owns 66.87% of its shares, which is approximately 4,948,418.

But let’s not stop there. Join us as we explore Goodyear’s long company history, leadership over the years, and its top shareholders today. Let’s jump in.

Owners of Goodyear Overtime

As with all great stories, Goodyear started from a man with a vision. Founded by Frank Seiberling in 1898, the pioneer borrowed money from his brother-in-law to realize his vision.

With that, Seiberling and his brother Charles founded The Goodyear Tire & Rubber Company, named after the inventor of rubber vulcanization Charles Goodyear.

Here are some history snippets on the brand’s ownership and highlights over the years.

1898-1919

1898

• Company founded
• David Hill was named president

1899

• Raymond Penfield named president

1903

• Lucius Miles became the third president

1906

• Frank Sieberling, the founder of Goodyear, became president

1910

• Goodyear expanded into the international stage

1920-1939

1921

• Frank and Charles Sieberling resigned
• Edward Milner became president

1923

• George Stadelman was named president
• Edward Milner became chairman

1926

• Paul Litchfield was named president after Stadelman’s death

1930

• Paul Litchfield became chairman

1935

• Goodyear bought Kelly-Springfield Tire Company

1940-1959

1940

• Edwin Thomas became president
• Paul Litchfield named chairman and CEO

1942

• Goodyear built fighter planes for World War II

1956

• Edwin Thomas named CEO

1958

• Edwin Thomas named chairman
• Russell DeYoung became president

1960-1979

1963

• Goodyear Tires manufactured one billion tires.

1964

• Russell DeYoung became chairman and CEO
• Victor Holt Jr. named president

1972

• Charles Pilliod Jr. became president

1974

• Charles Pilliod Jr. was named chairman of the board
• The president’s post was left to John Gerstenmaier

1978

• John Gerstenmaier was elected vice chairman
• Robert Mercer became president

1980-1999

1983

• Robert Mercer elected chairman and CEO
• Tom Barrett named president and chief operating officer (COO)

1985

• Frank Seiberling inducted into the Tire Industry Hall of Fame.

1986

• Goodyear purchased Long Mile Rubber Company and Min Tire Equipment Inc.
• Sir James Goldsmith, Hanson Trust, and a group of investors bought 11.5% of stocks
• Goodyear re-bought stock from Goldsmith Investment Group

1987

• Goodyear Farms, Litchfield Park, and Westinghouse-Goodyear sold
• Hose Coupling Manufacturing Inc. sold.

1989

• Tom Barrett became chairman

1991

• Stanley Gault elected chairman and CEO
• Hoyt Wells became president and COO
• Sold most of its food and industrial films business

1992

• Sold its polyester businesses

1994

• Manufacturing began in China

1995

• Samir Gibara became president and COO.

1996

• Acquired a 50% stake in Sweden’s Dackia, a tire retailer.
• Purchased tire assets of Sime Darby Pilipinas in the Philippines.
• Goodyear purchased 60% of the South African tire company, Contred.
• Goodyear bought Belt Concepts of America, a lightweight conveyor belt maker

1999

• Goodyear and Sumitomo Tires joint venture formed. Sumitomo also owned most of Dunlop Tires, which gave Goodyear exclusive rights to the Japanese brand.

2000-Today

2000

• Robert Keegan became president and COO

2002

• President Robert Keegan appointed as Goodyear CEO.

2003

• Robert Keegan elected chairman

2004

• Purchased Sava Tires

2006

• Purchased South Pacific Tyres

2007

• Engineered Products sold

2009

• Richard Kramer named as COO.

2010

• Richard Kramer named president and CEO,

2015

• Goodyear dissolved joint venture with Sumitomo Rubber Industries

2017

• Goodyear bought Ventech

2021

• Goodyear bought Cooper Tire & Rubber Company

Ownership Structure

Is Goodyear Still America Owned?

Yes. It’s now the only tire company in America that is still considered “American-owned” since most of its US competitors sold their shares to other foreign companies. One example is Firestone Rubber Co., which was initially founded in America, but was bought by Bridgestone in 1988.

However, Goodyear tires aren’t just manufactured in the US alone—the company has several plants in many countries, such as England, Germany, China, France, Brazil, Canada, etc. Rest assured, its corporate headquarters are still in Akron, Ohio.

Who Are the Largest Shareholders in Goodyear?

As of 2022, the company itself, Goodyear Tire & Rubber Company, owned 66.87% of shares, which translated to a number of 4,948,418 shares. It was then followed by Boonpermpoon Co., Ltd with only 5.66% and Srikiri Enterprise Co. Ltd with 2.84%.

Which Companies Are Owned by Goodyear?

Across its history, Goodyear has acquired many companies, from rubber farms to tire companies. These business moves and the many tire brands owned by Goodyear catapulted the company to the top of the American tire industry.

However, its most notable acquisitions were undoubtedly its merger with Japanese tire giant Sumitomo Rubber Co. in 1999, with Dunlop Tires among its subsidiaries. This allowed the company to have rights to Dunlop tires as well.

The merger lasted for 15 years until it ended in 2015. But the company’s incredible business moves did not end there, as Goodyear recently bought Cooper Tires in 2021 for a whopping $2.5 billion dollars.

Companies such as Fulda, Sava, Debica, and Kelly Tires, are also considered under Goodyear brands.

FAQs

Where are Goodyear tires made?

Although Goodyear’s originally manufactured and its company headquarters is in the U.S., its factories and facilities are scattered across many locations worldwide within many continents.

Here are some of Goodyear’s plant locations across the continents:

North America

• Canada
• United States

South America

• Colombia
• Venezuela
• Brazil
• Peru

Europe

• France
• Germany
• England
• Poland

Asia

• China
• Taiwan
• Malaysia
• Indonesia
• India
• Thailand

Africa

• South Africa

Which is Better, Michelin or Goodyear?

When it comes to business, Michelin still reigns as the largest tire manufacturer in the world. However, when it comes to tires, the answer is more complicated since it depends on what you’re looking for in a tire.

For instance, Goodyear is known for their all-terrain off-road tires, while Michelin specializes in touring and smooth long drives on highways. Regardless, both brands are among the best in the world, and their tires are always worth the investment.

For more details, learn this comparison: Michelin vs Goodyear tires.

Conclusion

I hope we answered your itching question on “Who owns Goodyear tires?” and more. As we’ve learned, the company’s constant evolution and adaptability allowed it to survive for over a century.

Goodyear is a great example of showing how one expert business move can turn the tides of the complex and competitive tire industry.

Read more: The Lifespan of Goodyear tires