Activist investor Elliott Investment Management L.P. disclosed a large investment in Goodyear Tire & Rubber Co. on Thursday and said it wants the company to strengthen its financial position by refreshing the board, selling its stores, and conducting an operational review.
Elliott holds a 10 percent stake in the 125-year-old company, making it one of Goodyear’s biggest investors. The investment firm, which manages $55 billion in assets, is proposing that five new directors join the 12-member board.
