The Cooper Tire & Rubber Foundation, the philanthropic arm of Cooper Tire & Rubber Company, has established the Roy V. Armes scholarship. The new fund is in recognition of the contributions and achievements of Cooper Chairman, Chief Executive Officer and President Roy Armes, who retires from the company and its Board of Directors effective Aug. 31 after nearly 10 years of service.

The new scholarship is designed to assist the children of Cooper employees in the United States who are graduating high school seniors going on to study at an accredited four-year college or university, majoring in either business or engineering. Each year, one student will be awarded the Armes scholarship and will receive $5,000 toward their continued education. In addition to other qualifying criteria, applicants will be required to write an essay about leadership, a topic that Armes has championed for decades. The first Armes scholarship will be awarded in 2017.

"Roy greatly values education and believes that leadership skills are an essential element for young people to possess in today's global economy. We could not think of a better way to honor his many accomplishments and contributions than to establish a scholarship in his name that will be awarded in perpetuity, assuring a lasting legacy," said Brad Hughes, Cooper's Chief Operating Officer, who will assume the role of President and Chief Executive Officer of Cooper effective upon Armes' retirement. "We are pleased to honor Roy in a way that is connected to his personal values of education and leadership and underscores his strong commitment to the people of Cooper."

The Armes scholarship will be administered by the Findlay-Hancock County Community Foundation, an independent philanthropic agency that manages more than 350 funds, including over 100 scholarships.

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company (NYSE: CTB) is the parent company of a global family of companies that specializes 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 operations within its family of companies located in more than one dozen countries around the world. For more information on Cooper, visit, or

View source version on

Copyright Business Wire 2010