Former Goodyear Chairman steps down from Burton D. Morgan Foundation's Board

[caption id="attachment_1724" align="alignnone" width="1024"] Stanley during 1992[/caption]

Former CEO and chairman of Goodyear Stanley C. Gault is stepping down from Burton D. Morgan Foundation's board of trustees. Gault has immense business leadership experience. He was the chairman and CEO of Goodyear from 1991-1996. He took over the position when Goodyear was struggling with low sales and huge debt after holding off Sir James Goldsmith from taking over. In 1992, an article in Fortune magazine said that Gault quickly began to turn the company around by reducing the debt, developing new products and improving the company culture.

Before joining Goodyear, Gault was serving as the Senior Vice President of General Electric. Prior to General Electric, he was the Chairman and CEO of Rubbermaid Inc. in Wooster, Ohio, which happens to be his hometown too. He also held the position of Director and Chairman of the Board of Avon Products Inc. and was the Director of New York Stock Exchange. Gault was also the Chairman Emeritus of the board of trustees at College of Wooster. He is an alumnus of the same college.

Deborah Hoover, President and CEO of Morgan Foundation, said in a statement, "Our Trustees said it best in their Resolution of Appreciation stating that, ‘Mr. Gault has guided the evolution of the Foundation through steadfast contribution of his wisdom, time and many talents over more than two decades, freely sharing his vast experiences and generously mentoring others. He has exemplified a generosity of spirit and deep understanding of critical issues that promote the mission and ethos of the Foundation and serve as an inspiration to others in the philanthropic community."