Elliott proposes adding new directors to Goodyear’s board. How a margin-boosting plan might unfold

Elliott issued a letter and presentation to Goodyear's board urging the company to appoint five new independent directors, monetize the company-owned store network, and form an operational review committee to develop an operational and margin improvement plan.

Goodyear is one of the world's largest operators of commercial truck service and tire retreading centers.

Elliott is a very successful and astute activist investor, particularly in the technology sector.

Elliott is recommending adding five new directors to the board.

Six members of the 12-person board (including CEO Richard Kramer) have served on the board for 11+ years.

Elliott does not state that it wants to replace five current directors, but at currently 12 directors, there would need to be some attrition.