According to a study by management consultant, PricewaterhouseCoopers, every third European new car registration could be an electric car by 2030. Hybrid and electric vehicles require electrically powered compressors because, instead of a combustion engine, a battery provides their energy. Thermal management expert, Behr Hella Service, has therefore been offering compressors for hybrid and electric vehicles for more than six years.
Tyre firm celebrates 2013 results, approves board remuneration The Goodyear Tire & Rubber Company is celebrating achieving “many milestones in 2013, a year that was unlike any other in its 115-year history”. Chairman and CEO Richard J. Kramer highlighted record segment operating income and “strong cash flow” as two examples at the company’s annual shareholder […]
Shareholders of The Goodyear Tire & Rubber Company have re-elected 12 members of the company’s board of directors including chairman, president and CEO Richard J Kramer (full list below). The company also officially appointed PricewaterhouseCoopers as the company’s independent registered public accounting firm for 2011, having had the action ratified by shareholders.
Former COO Richard J. Kramer has taken over as president and chief executive officer of The Goodyear Tire & Rubber Company. Kramer, who becomes the 19th president since the company’s foundation in 1898, follows Robert J. Keegan who remains with the company as executive chairman.
Speaking at Goodyear’s 2010 Annual Shareholder Meeting, Kramer described the tyre industry as one of very few industries that has been and remains a growth industry after more than 100 years: “I am privileged to lead a team whose dedication to Goodyear and commitment to success is second to none,” he said, thanking Keegan and the board of directors for their confidence in electing him to lead the company.
Creditors have reportedly named PricewaterhouseCoopers Korea and Deloitte Anjin LLC as the firms carrying out due diligence on Kumho Tire and Kumho Industrial. The accounting firms may take about two months two deliver reports, however creditors have decided to conclude the process earlier than previously planned to speed up the normalisation of the two Kumho Asiana business units.
Continued growth at Micheldever Group means the group has jumped to 109th place in the prestigious Sunday Times Top Track 250 list of the most successful mid-market companies. In the past two years the group has jumped by almost 100 places in the Sunday Times list with group sales reaching £259.3 million, up 16 per cent over the previous year. Annual turnover for 2009/10 is forecast to be over £283 million.
The league table, which is co-sponsored by PricewaterhouseCoopers LLP, ranks Britain’s biggest mid-market private companies by their latest sales figures, which range from £592 million to £153 million. In addition to retailers in the automotive business, companies span a wide range of industries from construction to IT and property. Micheldever Group is the only tyre industry player to be placed in this illustrious listing.
Commenting on the group’s performance Paul Fox chief executive said: “We are absolutely delighted to have accelerated up the Sunday Times Top Track 250 list. It is a reflection of the tremendous hard work of our dedicated team of people here at Micheldever set against a very difficult and challenging market. The investment we have made in warehousing, new retail outlets together with systems and procedures have put us at the top of the tyre distribution business.”
There will be significantly fewer car retailers operating in the UK in the years to come, as a result of vehicle manufacturers tightening control over dealership standards, according to analysts PricewaterhouseCoopers. Chris Kent, a director in the automotive team at PricewaterhouseCoopers, will be presenting at the forthcoming EurotaxGlass’s conference entitled ‘Driving Business – opportunities for profit and growth in an uncertain market’.
Speaking ahead of the event, he said that many more dealers are expected to follow those that have already closed their doors this year. The theme will be explored in greater detail at the event, being staged on 13 November at the National Motorcycle Museum in Birmingham.
Three new class 1 directors were elected at Titan International’s annual shareholders meeting on May 17. Chosen for the three-year term were J. Michael A. Akers, Edward J. Campbell and Maurice M. Taylor Jr. Titan stockholders also voted in favour of amending the company’s bylaws to allow the number of board of director positions to increase from the current level of seven to a total of nine positions. Also on the agenda was the ratification of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2007.
Titan’s Board of Directors met after the stockholders meeting and re-elected Maurice M. Taylor Jr. as chairman and CEO, Ernest J. Rodia as executive vice president and COO, Kent W. Hackamack as vice president of finance and treasurer and Cheri T. Holley as vice president and secretary.
The Goodyear Tire & Rubber Company announced on March 14 that Richard J. Kramer has been appointed president of the company’s North American Tire unit, effective immediately. Kramer succeeds Jonathan D. Rich, 51, who is leaving Goodyear to pursue other leadership options. Currently executive vice president and chief financial officer for Goodyear, Kramer, 43, also will continue as CFO until the company names a replacement.
Kramer joined Goodyear in March of 2000 and was elected an officer of the company as vice president, corporate finance. He became vice president of finance for the North American Tire business in July of 2002 and was promoted to senior vice president, strategic planning and restructuring in August of 2003. In May of 2004 Kramer became chief financial officer.
Hayes Lemmerz has announced that Cynthia Feldmann has been appointed to the Company’s board of directors. With the addition of Ms. Feldmann, the Board now consists of seven members. Ms. Feldmann has also been appointed as the Chairperson of the Audit Committee and a member of the Nominating and Corporate Governance Committee.
Axle Group executives have announced plans to acquire up to 200 independent retail outlets across the UK in an effort to double the number of branches in the company’s National Tyres chain. Group financial director, John Kemp told Tyres & Accessories that National Tyres is “actively looking” for the right kind of acquisition targets and is “prepared to borrow” to do this. In his words, expanding the retail network is a great opportunity to “further enhance (the) bottom line.”
The announcement coincides with the publication of the company’s financial results, which show that the company achieved £121.4 million of sales in 2005, up 7 per cent on the previous year. During the period Axle Group recorded an operating profit of £883,000, almost £9 million more than the company reported in its 2004 accounts.
The rumour mill is churning our speculation that sport car manufacturer, TVR’s, bosses are poised to launch a bid to buy what’s left of MG, Auto Express has reported. Not only that, but the report suggests that such a move would also see the company mothball its Blackpool, Lancashire, factory in favour of moving back to the currently idle Longbridge site in Birmingham. The idea is said to be backed an unnamed member of MG’s former management. Neither TVR or MG Rover administrator PriceWaterhouseCoopers gave any comment.
Titan International board of directors has elected several new directors at its annual meeting of stockholders held last week. Maurice M. Taylor Jr will be the new chairman and CEO, Erwin H. Billig vice chairman, Kent W. Hackamack vice president of finance and treasurer and Cheri T. Holley will be the new vice president and secretary.
“The Board thanks Mr Billig for his dedication and service as Titan’s chairman during the last 10 years,” stated Mr Taylor. “I personally would like to thank him for all of the time, effort and guidance given to me and the company and I know this will continue in his role as vice chairman.”
Richard M. Cashin Jr., Albert J. Febbo and Mitchell I. Quain were also elected by the stockholders to serve as directors for three-year terms. Stockholders also approved the Titan International, Inc. 2005 Equity Incentive Plan and the PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2005.