AKRON, Ohio, - The Goodyear Tire & Rubber Company announced that Richard Pegher has been named vice president of internal audit, effective Aug. 1. Pegher will report functionally to the audit committee of Goodyear's board of directors and administratively to Executive Vice President and Chief Financial Officer Mark Schmitz. Pegher will be based at the company's headquarters in Akron.

In this role, Pegher, 55, will implement audit programs and evaluate risk exposures relating to the company's governance, operations, financial reporting and information systems.

"Rich brings to Goodyear significant experience as a leader in internal auditing functions at large corporations," Schmitz said. "I am confident he will be vigilant about our corporate governance and control mechanisms and help Goodyear further enhance our well-earned reputation as a trustworthy company."

Before joining Goodyear, Pegher served as vice president of internal audit at XM Satellite Radio, where his responsibilities included assessing enterprise-wide risks and risk management activities. Prior to that, he spent six years as vice president of internal audit for ArvinMeritor, Inc., a leading international truck and auto parts supplier based in Troy, Mich., where he spearheaded the company's efforts to achieve Sarbanes-Oxley compliance and served as the company's Chief Ethics Executive. He also held various internal audit and financial positions with Pittsburgh-based Rockwell International and its spin-off Meritor Automotive, Inc.

Pegher received his bachelor's degree in business administration from Point Park College in Pittsburgh and his MBA from the University of Pittsburgh.

Pegher replaces Warren Johnston, who took over Goodyear's internal auditing responsibilities on an interim basis in 2006. A former vice president of internal audit at automotive supplier TRW Inc., Johnston had served as a Goodyear consultant in 2004 and 2005 as the Sarbanes-Oxley program manager.

Goodyear is one of the world's largest tire companies. Fortune magazine named Goodyear the World's Most Admired Motor Vehicle Parts Company in its 2008 list of the World's Most Admired Companies. The publication ranked Goodyear No. 1 in innovation, people management, use of assets and global orientation.

Courtesy: The Goodyear Tire & Rubber Company, USA

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Posted by Naresh Koshti on 26 July, 2008 2:40:53 PM IST #