Cooper Tire & Rubber Company (NYSE: CTB) today announced a series of executive leadership changes.
Brad Hughes has been named Senior Vice President and Chief Operating Officer for Cooper Tire & Rubbe ...

Brad Hughes has been named Senior Vice President and Chief Operating Officer for Cooper Tire & Rubber Company (Photo: Business Wire)

Brad Hughes has been named to the newly created position of Senior Vice President and Chief Operating Officer effective immediately. In this role, Hughes has responsibility for Cooper's worldwide operations throughout North America, Asia, Europe and Latin America. He has been with the company for five years, beginning in 2009 as Chief Financial Officer. In July 2014, he was appointed to lead the company's International segment as President—International Tire Operations. Hughes has three decades of experience in key finance, strategic planning and operational roles, with several global assignments throughout his career.

"We are excited to have Brad lead our operations in all regions around the world as we head into Cooper's second century in the tire industry," said Cooper Chairman, Chief Executive Officer and President Roy Armes. "He is an accomplished executive and has done an excellent job leading teams during times of change and growth for Cooper. We look forward to the contributions Brad will continue to make as we bring together all of our regions under his leadership. This appointment gives Cooper an even more cohesive global approach to our business as we continue to develop, optimize and leverage our brands, products and manufacturing footprint around the world."

In addition to Hughes' appointment, Cooper has promoted Phil Kortokrax to the position of Vice President—North America Tire Operations effective immediately. In this role, he will be responsible for the strategic leadership and growth of all Cooper operations in the U.S. and Canada. Kortokrax's appointment is made as Chris Ostrander, President - Americas Tire Operations, has announced he will depart Cooper effective February 6. Ostrander has accepted the role of Chief Executive Officer with an automotive aftermarket parts supplier.

Kortokrax has been with Cooper for 24 years in a career that has included leadership positions in a wide range of functional areas from Information Technology and Finance to Sales and Marketing and Operations. Kortokrax was named to his most recent role as Vice President of Manufacturing for North America Tire Operations in 2012. He will report to Hughes in his new position.

"It is particularly gratifying to advance Phil to the top role in our North America business as he has over two decades of service to our company across a vast array of functional areas. He is highly knowledgeable and has a depth of experience in our business that positions him to successfully lead his team going forward," Armes noted. "Phil is well known and respected throughout our organization and among our external stakeholders, so we expect a smooth transition as Chris departs Cooper.

"Chris served Cooper for four years as an exceptional leader who made important contributions to our business in the Americas, establishing a solid foundation and cohesive team that will serve us well into the future," Armes said. "We recognize his many accomplishments, and I personally appreciate the support he has provided to me and other leaders across the company during his time here. We wish Chris the best in his new endeavor."

Biographical Information—Hughes

Hughes, 52, joined Cooper in 2009 as Vice President and Chief Financial Officer and most recently served as Senior Vice President and President—International Tire Operations. Formerly a 23-year employee of Ford Motor Company in Dearborn, Mich., Hughes previously worked as Global Product Development Controller for Ford in Dearborn; as Finance Director for Ford's South America Operations in Sao Paulo, Brazil; as Director of European Business Strategy and Implementation in Cologne, Germany; as European Manufacturing Controller, also in Cologne; and in other corporate finance and treasury positions. Prior to joining Ford, Hughes worked for Fruehauf Finance Corp. in Detroit, Mich. Hughes earned a bachelor's degree in business from Miami University, Oxford, Ohio, and earned a master's degree in business administration (MBA) from the University of Michigan Business School, Ann Arbor, Mich.

Biographical Information—Kortokrax

Kortokrax, 52, joined Cooper in 1990 as a member of the Information Technology team, and by 2003, he progressed to the position of Director—Internal Audit. He went on to serve as General Manager of the Mickey Thompson business, and in 2008, moved to North America Tire Operations as Vice President—Dealer Channel Sales. Three years later, he was made Vice President—Strategic Marketing & Planning before being named to his most recent position as Vice President, Manufacturing and Supply Chain—North America Tire Operations. Kortokrax holds a bachelor's degree in business systems analysis from the University of Findlay (Ohio), and earned a master's degree in business administration (MBA) from the University of Toledo (Ohio).

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company (NYSE: CTB) is the parent company of a global family of companies that specialize in the design, manufacture, marketing and sale of passenger car and light truck tires. Cooper and its subsidiaries also sell medium truck, motorcycle and racing tires. Cooper's headquarters is in Findlay, Ohio, with manufacturing, sales, distribution, technical and design facilities within its family of companies located in 11 countries around the world. For more information on Cooper, visit www.coopertire.com, www.facebook.com/coopertire or www.twitter.com/coopertire.

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