Tire giant wheels in new CFO

Tire giant Goodyear has named Darren R. Wells as its new CFO.

Wells, 42, replaces W. Mark Schmitz, who is leaving to pursue other interests, the company said in a statement.

Schmitz, 57, has been CFO for 14 months.

Wells is a car industry veteran, having spent ten years at Ford, and most recently was one of the key leaders and architects of Goodyear's financial restructuring.

'The innovative plans to restructure our balance sheet executed under Darren’s leadership served as the foundation of the company’s rebirth as a stronger, more respected competitor in the tire industry,' chief executive Robert J. Keegan said.

'As chief financial officer, Darren will use his outstanding business and financial skills and strong leadership capabilities to generate shareholder value.'

A native of Indianapolis, Wells earned his bachelor of arts degree from DePauw University in Greencastle, Indiana, and his MBA in finance from Indiana University.

He held positions of increasing importance in 10 years at Ford Motor Company, including assignments in Australia for Ford Credit and Ford Investment Enterprises.

Schmitz was previously with Tyco International’s Fire and Security segment as vice president and chief financial officer for four years prior to joining Goodyear.

'We appreciate Mark’s contributions during a challenging period in our industry and in the global economy, and wish him well in the next phase of his career,' Keegan said.

Further Reading:

Read the company's statement