Hankook Tire has announced the establishment of a corporate governance charter to enhance transparent ESG management and to lay the groundwork for the company’s sustainable business. The company said in a statement that the charter was approved at the board meeting held on May 9. 

The corporate governance charter will ensure professionalism and independence of the board and promote the rights and interests of all stakeholders including shareholders, consumers, and members. It contains regulations on the rights and responsibilities of shareholders, roles and operations of the board, a structure of audit institutions, protection of rights of stakeholders, and disclosure. The content will be accessible to all shareholders on Hankook Tire’s official website as well as on Korea’s Financial Supervisory Service’s (FSS) Data Analysis, Retrieval and Transfer System (DART), the release said. 

Last July, the ESG committee was launched within the board of directors to strengthen the company’s ESG management strategies and activities. Currently, five operating units are affiliated within the board including the ESG committee, audit committee, outside director nomination committee, sustainable management committee, and internal transaction committee. 

The company said in an effort to enhance the expertise and function of the board, the committee has been set to consist of three or more directors, with a majority of its members from outside the board. In the case of the ESG committee, Mira Lee, a female leader with extensive experience in corporate governance practices from global companies such as General Electric (GE) and Macquarie Group, was selected as the first chairman. The committee, including the chairperson, is consisted of seven inside and outside directors. 

Sooil Lee, President and CEO of Hankook Tire & Technology, said, “Hankook Tire has met many milestones in fulfilling its responsibilities and roles as a top-tier ESG company, and is saving no efforts to reach sustainable growth in areas of economy, environment, and society. Following the enactment of the charter, Hankook Tire plans to establish sound governance with objectivity and transparency, and strengthen its ESG leadership.” 

Hankook has been improving its ESG capabilities by not only setting up the ESG committee but also by sharing its vision of sustainability and publishing its annual ESG Report since 2010, the release pointed out. Hankook earned the highest score in the auto components group in the Dow Jones Sustainability Indices (DJSI) World, and was included in the DJSI World for the past six years starting from 2016, it added. (TT)

Comments (0)

ADD COMMENT

Link Copied!

Goodyear India reported a decline in quarterly profit as softer demand and higher expenses offset modest revenue growth, while the company announced board changes and new senior management appointments.

The tyremaker’s standalone profit after tax fell to INR INR 134.7 million for the quarter ended 30 September 2025, down from INR 143.1 million in the same period last year, according to financial statements approved by the board.

Total income for the quarter edged up to INR 5.8441 billion from INR 5.6835 billion a year earlier, though margin pressures persisted.

Profit before tax for the quarter stood at INR 180.7 million , down from INR 195.1 million in the previous year, reflecting higher input costs and muted replacement demand. Performance in the half-year to September also trailed the prior period, with profit after tax at INR 317.6 million compared with INR 363.7 million last year.

Alongside the earnings announcement, Goodyear India disclosed several board changes. Varsha Chaudhary Jain tendered her resignation as Whole-Time Director, effective 31 December, citing personal reasons. Rajiv Lochan Jain will complete his second term as Independent Non-Executive Director on the same date.

The board has approved the appointment of Gajanan Vithal Gandhe as an Independent Non-Executive Director from 1 January 2026 for a five-year term, subject to shareholder approval. The company stated that he “is not debarred from holding the office of a Director by virtue of any order passed by the Securities and Exchange Board of India or any other Authority.”

Goodyear India also designated three senior executives as Key Managerial Personnel for determining material events under SEBI’s disclosure rules from 1 January: Arvind Bhandari, Chairman and Managing Director; Sandeep Garg, Whole-Time Director and CFO; and Anup Karnwal, Company Secretary and Compliance Officer.

Comments (0)

ADD COMMENT

Link Copied!

MRF, India’s largest tyre manufacturer, reported higher quarterly earnings as easing raw material prices offset the seasonal weakness in domestic demand, even as exports held up against tariff pressures.

The Chennai-based group said consolidated total income rose 7 percent year on year to INR 74.87 billion for the three months to 30 September, compared with INR 69.94 billion in the same period last year. Consolidated profit before tax increased to INR 6.99 billion from INR 6.31 billion, while net profit climbed to INR 5.26 billion from INR 4.71 billion.

The company attributed the improved bottom line to “softening of raw material prices”, according to a statement released after its board meeting on 14 November.

Sales in the second quarter are typically slower because of the monsoon season, a trend the company noted once again. Even so, original equipment demand “continued to have a strong double digit growth” and exports “performed well despite tariff issues”. MRF added that the government’s mid-quarter announcement of a reduction in goods and services tax had briefly damped replacement sales, though it expects the revised rate to support volume growth in subsequent quarters.

The board declared an interim dividend of INR 3 per share for the financial year ending 31 March 2026.

Comments (0)

ADD COMMENT

Link Copied!

A significant knowledge gap exists among UK drivers regarding the performance of electric vehicles (EVs) in cold weather, according to a YouGov study commissioned by Michelin. With winter conditions setting in and EV adoption rising, the research indicates that more than half of motorists are unaware that their electric car might handle differently in the cold, and over a third confess to feeling nervous about operating one during winter.

This apprehension is compounded by a clear disparity between driver attitudes and their actual preparedness. An overwhelming majority of respondents, around 90 percent, acknowledge the importance of winter vehicle preparation, and 82 percent recognise the critical role tyres play in safety. However, behavioural data reveals a stark contrast, with only 11.7 percent currently using winter tyres. This suggests a widespread failure to translate awareness into actionable safety measures.

The core of the issue lies in a lack of specific understanding about EV dynamics. Twenty percent of those surveyed incorrectly believed electric cars are generally less safe in winter than traditional fuel vehicles. A prominent concern for 67 percent of drivers was losing control on ice or snow, highlighting the critical need for education on vehicle handling. This knowledge deficit is further evidenced by 43 percent of respondents expressing a desire for more guidance on safe EV operation.

Tyre performance is a fundamental aspect of winter safety that is often overlooked. Standard summer tyres begin to harden and lose grip at temperatures below 7°C. In contrast, winter and all-season tyres are engineered with specialised rubber and tread designs that stay flexible in the cold, providing superior traction, braking and stability on wet or icy roads. This is especially crucial for electric vehicles, which are often heavier and deliver instant torque, particularly in rear-wheel-drive models, requiring tyres designed to handle these specific characteristics to maintain stability and even protect driving range.

The survey ultimately underscores an urgent need for a concerted educational effort. Drivers are calling for car manufacturers, the government and retailers to take the lead in providing clear information to ensure safer winter driving for the growing number of electric vehicle users.

Joe Brammer, Technical Manager, Michelin UK, said, “Winter doesn’t just challenge drivers – it challenges their vehicles and tyres too. Cold weather can affect braking distances and grip for all cars, yet too many drivers still aren’t fitting tyres designed for these conditions. With more electric vehicles on the road than ever, its vital drivers understand how winter temperatures impact performance and safety as these cars can perform differently in winter compared to combustion vehicles. Choosing tyres built for cold weather or all-season use can make a real difference in maintaining control, confidence and protection on the road.

“It’s encouraging that drivers understand how important winter preparation is, but awareness needs to translate into action. Whether it’s checking tyre pressures, fitting winter-ready tyres, or booking a professional inspection, a few small steps can make winter driving safer and less stressful. It’s clear too that there is an opportunity for those selling, promoting and encouraging uptake of EVs to help equip drivers with the knowledge they need to stay safe on the roads.”

Comments (0)

ADD COMMENT

Link Copied!

In a strategic move to expand its French heavy-duty tyre operations, Ralson Tires Limited has announced a new alliance with the local firm Copadex. This collaboration, unveiled at the Solutrans 2025 event, aims to provide transport professionals across France with reliable, high-value products by merging Ralson’s manufacturing strength with Copadex’s extensive regional market knowledge.

The two companies share a common goal of achieving sustained growth and improving service within the transport industry. This partnership will enable Ralson to offer a comprehensive and tailored product range to meet specific local demands. By leveraging Copadex's established distribution network, Ralson anticipates a significant increase in its market penetration.

This European initiative follows Ralson’s recent foray into India’s heavy commercial vehicle (HCV) tyre market, marking a significant diversification from its established position in the bicycle tyre sector.

Comments (0)

ADD COMMENT

Link Copied!