Goodyear CEO Mark Stewart is out after 22 months, with the stock 60% below its 52-week high

The Goodyear Tire & Rubber Company (NASDAQ: GT) said on Monday that Mark Stewart is stepping down as chief executive, president and a director, effective immediately. Roger Wood, a board member since 2023, is interim CEO while the board searches for a permanent successor, according to the company's Form 8-K press release. CNBC reports that Stewart was hired in January 2024. Goodyear shares were at $4.26 at 9:51 AM ET, down 2.3% from Friday's $4.36 close on Nasdaq.com.

The numbers that came five days earlier

The departure follows third-quarter results on November 4. The headline figures: net sales of $4.5 billion, down 2.3% (up 1.6% excluding the sale of its Chemical business and the Dunlop brand), a GAAP net loss of $238 million, and an adjusted net loss of $31 million against adjusted net income of $82 million a year earlier.

The segment line is where the problem shows. Segment operating income fell to $174 million from $287 million, a drop of 39% (our arithmetic). The company's own bridge lists lower volume at $77 million, inflation at $69 million and tariffs and other costs at $48 million, against $90 million from its Goodyear Forward cost program and $76 million from price and mix running ahead of raw materials.

Americas segment	Q3 2026	Q3 2025	9 months 2026	9 months 2025
Net sales	$2,675M	$2,737M	$7,120M	$7,901M
Segment operating income	$96M	$206M	$123M	$502M
Operating margin	3.6%	7.5%	1.7%	6.4%

Over nine months the Americas unit's operating income is down 75% (our arithmetic), and tire units are down from 57.1 million to 52.3 million. Goodyear blames factory utilization, inflation and other costs. Asia Pacific is the bright spot, with a 12.9% margin in the quarter, but the Americas carry the company.

CNBC reports that Goodyear missed its goal of a 10% operating margin by the end of last year. For scale, the company's Q3 segment operating income of $174 million on $4.5 billion of sales is roughly 3.9% (our arithmetic, using rounded sales).

What the board did and did not say

The release says a special committee formed earlier this year is conducting a strategic review "focused on identifying opportunities to strengthen performance and drive shareholder value," including "further optimizing the company's business mix and footprint." It names no sale, split or closure. It also says Goodyear does not intend to give further updates unless the board decides more disclosure is appropriate or required. Readers should treat any talk of a breakup or asset sale as speculation until a filing says otherwise.

Two other leadership changes are already on file. Goodyear named Jerome Rouquet, currently Visteon's CFO, as its CFO effective December 1, according to the new release, and a November 5 8-K made David Phillips chief legal officer and head of enterprise transformation. A new CFO arrives about three weeks from now under an interim CEO.

What the market is saying

Nasdaq.com lists a market value of about $1.23 billion and a 52-week range of $4.09 to $10.62. At $4.26 the stock is roughly 60% below that high and 4% above its low (our arithmetic). The stock was down only about 2% to 4% on the news, which suggests the departure was not a surprise after last week's results, though that is our reading, not a statement from anyone.

Who it matters to

Independent shops sit downstream of tire supply decisions.

224,738 independent auto repair shops are listed on CheckThisBiz, a directory of 7,704,724 independent US businesses, including 26,287 in CA, 22,628 in TX, 14,123 in FL. Chains and franchises are excluded from that count, so these are the owner-operated businesses that actually apply for funding.

Nothing in Goodyear's release says its dealer terms, pricing or product lines will change, and we have no evidence they will. What a footprint review can change over time is plant output and SKU range, so shop owners who stock the brand should keep an eye on supplier notices rather than assume anything. Our auto repair playbook is the place to start for shop owners.

For employees, communities around Goodyear's 46 plants in 19 countries, and suppliers, the release gives no plant-level information. The next real datapoints are the permanent CEO announcement, any filing from the special committee, and fourth-quarter results. See more in our stocks section.

Sources: Goodyear press release, Exhibit 99.1 to Form 8-K, November 9, 2026; Goodyear third-quarter 2026 results, November 4, 2026; Form 8-K, November 5, 2026; CNBC, November 9, 2026; Nasdaq.com quote data at 9:51 AM ET, November 9, 2026, which may be delayed or move. This is market information, not investment advice.