Cooper Tire Appoints Mark Chung Vice President, Strategy & Business Development

Cooper Tire Appoints Mark Chung Vice President, Strategy & Business Development (Photo: Business Wire)

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FINDLAY, Ohio--()--Cooper Tire & Rubber Company (NYSE: CTB) has appointed Mark Chung Vice President, Strategy & Business Development for the Americas. In his new role, Chung is responsible for leading the development and execution of Cooper’s North and South America business strategy, spearheading business intelligence, business development, and establishing processes to support the company’s growth initiatives in North America. He reports to Chris Ostrander, Cooper’s President, Americas Operations.

Chung brings nearly 15 years of automotive and industrial-related corporate strategy, marketing and sales experience to Cooper, including his most recent post as Director, Global Marketing for the Filtration Business Unit of Cummins Inc., where he led a global team located across five continents. Prior to Cummins, Chung was with Yokohama Tire Corporation as Director of Strategic Marketing, Corporate Strategy & Product Marketing, where he had global responsibility for the company’s marketing and corporate strategic planning process. Earlier in his career, Chung spent five years with Ford Motor Company, where he was a part of the accelerated marketing executive management development program and served in a variety of roles including Digital Marketing Manager, Zone Sales Manager, Advanced Market Strategy Manager, and Experiential Marketing Manager.

“Mark brings a wealth of experience in strategic business planning, as well as marketing and sales leadership to Cooper,” said Ostrander. “As we work toward achieving the ambitious goals we have for the Americas region to drive improvements in mix and margin, increase our participation in the original equipment channel, and grow our commercial vehicle and Latin American sales, Mark’s leadership will be instrumental to develop and implement the strategy to attain these goals.”

Chung graduated from the University of Southern California’s Marshall School of Business with a bachelor’s degree in Business Administration, and earned a master’s degree in Business Administration (MBA) from Indiana University’s Kelley School of Business.

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 sales of passenger car and light truck tires. Cooper has joint ventures, affiliates and subsidiaries that also specialize in 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.

Forward Looking Statements

This release contains what the Company believes are “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995, regarding projections, expectations or matters that the Company anticipates may happen with respect to the future performance of the industries in which the Company operates, the economies of the United States and other countries, or the performance of the Company itself, which involve uncertainty and risk. Such “forward-looking statements” are generally, though not always, preceded by words such as “anticipates,” “expects,” “will,” “should,” “believes,” “projects,” “intends,” “plans,” “estimates,” and similar terms that connote a view to the future and are not merely recitations of historical fact. Such statements are made solely on the basis of the Company’s current views and perceptions of future events, and there can be no assurance that such statements will prove to be true.

It is possible that actual results may differ materially from those projections or expectations due to a variety of factors, including but not limited to:

  • volatility in raw material and energy prices, including those of rubber, steel, petroleum based products and natural gas and the unavailability of such raw materials or energy sources;
  • the failure of the Company’s suppliers to timely deliver products in accordance with contract specifications;
  • changes in economic and business conditions in the world;
  • failure to successfully implement information technologies or related systems, including the failure to successfully implement systems in connection with the Company's ERP deployment;
  • increased competitive activity including actions by larger competitors or lower-cost producers;
  • the failure to achieve expected sales levels;
  • changes in the Company’s customer relationships, including loss of particular business for competitive or other reasons;
  • changes to tariffs or the imposition of new tariffs or trade restrictions;
  • changes in pension expense and/or funding resulting from investment performance of the Company’s pension plan assets and changes in discount rate, salary increase rate, and expected return on plan assets assumptions, or changes to related accounting regulations;
  • government regulatory and legislative initiatives including environmental and healthcare matters;
  • volatility in the capital and financial markets or changes to the credit markets and/or access to those markets;
  • changes in interest or foreign exchange rates;
  • an adverse change in the Company’s credit ratings, which could increase borrowing costs and/or hamper access to the credit markets;
  • the risks associated with doing business outside of the United States;
  • the failure to develop technologies, processes or products needed to support consumer demand;
  • technology advancements; the inability to recover the costs to develop and test new products or processes;
  • the impact of labor problems, including labor disruptions at the Company, its joint ventures, including CCT, or at one or more of its large customers or suppliers;
  • failure to attract or retain key personnel;
  • consolidation among the Company’s competitors or customers;
  • inaccurate assumptions used in developing the Company’s strategic plan or operating plans or the inability or failure to successfully implement such plans;
  • failure to successfully integrate acquisitions into operations or their related financings may impact liquidity and capital resources;
  • the ability to sustain operations at CCT, including obtaining financial and other operating data at CCT;
  • changes in the Company’s relationship with its joint-venture partners, or changes in the ownership structure of its joint ventures, including changes resulting from the previously announced agreement between the Company and the CCT joint-venture partner;
  • the inability to obtain and maintain price increases to offset higher production or material costs;
  • inability to adequately protect the Company’s intellectual property rights; and
  • inability to use deferred tax assets.

It is not possible to foresee or identify all such factors. Any forward-looking statements in this release are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that any such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected.

The Company makes no commitment to update any forward-looking statement included herein or to disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement. Further information covering issues that could materially affect financial performance is contained in the Company’s periodic filings with the U. S. Securities and Exchange Commission (“SEC”).

Contacts

Cooper Tire & Rubber Company
Anne Roman, 419-429-7189
alroman@coopertire.com

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Contacts

Cooper Tire & Rubber Company
Anne Roman, 419-429-7189
alroman@coopertire.com