• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My account
  • Log In
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • All Headlines
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Premium Report
  • Features
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Aftermarket 2020
    • Tyre Recycling 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Search
  • Menu
You are here: Home1 / News2 / Company News3 / SEC filing sheds light on Goodyear exec compensation

SEC filing sheds light on Goodyear exec compensation

Date: 9th March 2011 Author: Admin Comments: 0

A Securities and Exchange Commission filing submitted by Goodyear Tire & Rubber reveals the tyre maker’s top executives received considerable compensation increases last year, despite the company posting another annual loss.

According to the DEF 14A form, Richard J. Kramer, who took on new offices last year, enjoyed an 82.5 per cent jump in total renumeration to US$10.13 million. Kramer’s base salary was $929,924, up 37 per cent from 2009. “Mr. Kramer was elected as our chief executive officer and president effective April 13, 2010, at which time his base salary was increased from $750,000 to $1,000,000,” the filing stated. On top of this base salary came various additional amounts including stock and option awards plus a $5.65 million ‘non-equity incentive plan compensation.’

Former CEO Robert J. Keegan retired during 2010 and thus his base salary decreased 25 per cent to $922,500. In total, Keegan received financial compensation of $15.3 million from Goodyear, 11 per cent less than in 2009. Arthur de Bok, president of the tyre maker’s Europe, Middle East and Africa Tire business, saw his base salary rise a modest 4.6 per cent to $523,000. De Bok’s total salary increased 47.6 per cent to $4.99 million.

Despite annual sales increasing 16 per cent year-on-year during 2010, Goodyear still posted a net loss of $216 million for the year. While admittedly far smaller than its $375 million net loss in 2009, last year’s red figures are the tyre maker’s third consecutive net loss.

Related news:

  • Kramer praises loss-making Goodyear for ‘improvement across all businesses’

Related news:

  1. Goodyear’s Keegan Pay Packet Worth $17 million in 2009
  2. Goodyear reports record sales and a Q1 profit
  3. Goodyear says net income a Q3 record
  4. Goodyear reports 27% increase in 2013 operating income
Comments
Comments closed
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Per E-Mail teilen

Related Tags

Africa, awards, Company News, financials, Goodyear, Middle East, rubber

Advert Location 28

Top five articles this week

Advert Location 10

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
New Conti brand communication strategy targets changing demographics Kumho scores third rally victory in three weeks
Scroll to top