Goodyear forms global racing organization under new leadership

AKRON - Goodyear Tire & Rubber Company (NASDAQ:GT) announced Tuesday the creation of a new Global Racing organization that will consolidate all its motorsport operations under a unified structure.

Xavier Fraipont has been appointed vice president of Global Racing, effective October 1. With nearly 30 years of experience in racing and product development within the company, Fraipont will oversee teams supporting NASCAR, NHRA, WEC and BTCC racing series.

In this new role, Fraipont will report to both Chris Helsel, senior vice president and chief technical officer, and Will Roland, senior vice president and chief marketing officer, to align technical innovation with brand strategy.

"Goodyear has been synonymous with car racing since the very beginning of our history," said Helsel in the press release. "With Xavier’s deep expertise and leadership at the helm, we’re advancing our commitment to innovation."

The company serves as the exclusive tire supplier for several major racing series, with its Eagle tire being used across various racing disciplines.

Roland noted that motorsport remains "a central pillar" of Goodyear’s brand strategy, calling racing "the ultimate proving ground" for the company’s products.

Goodyear, which employs approximately 68,000 people and operates 53 manufacturing facilities across 20 countries, stated that this reorganization aims to enhance its motorsport strategy globally. While the company carries a substantial debt burden of $8.98 billion, InvestingPro analysis suggests the stock is currently undervalued. Investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through the detailed Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Goodyear Tire & Rubber Co. reported disappointing results for the second quarter of 2025. The company posted an adjusted loss per share of $0.17, missing the expected profit of $0.02. Revenue, however, was in line with forecasts at $4.47 billion. In response to these earnings, CFRA lowered its price target for Goodyear from $15.00 to $13.00, citing concerns over low-cost tire imports impacting the company’s recovery. Despite this, CFRA maintained a Strong Buy rating on the stock. Additionally, HSBC downgraded Goodyear from Buy to Hold, reducing its price target to $9.50 due to concerns about the company’s pricing power and margin improvements. In a strategic move, Goodyear appointed Jan-Piet van Kesteren as Managing Director for the EMEA region, effective September 1. Van Kesteren will focus on driving sales and delivering profitable growth across Europe, the Middle East, and Africa.

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