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The abstract of the case is as follows: In the 1990s, Goodyear, the iconic US tyre manufacturer witnessed a decline in its profits. Its debts increased as Goodyear faced successive years of recession, rising raw material costs and overcapacity in the market. After several unsuccessful attempts to turn the company around, Robert Keegan, a former Kodak executive, was appointed as the Chief Executive Officer and Chairman of the company. Robert Keegan launched a detailed restructuring plan to turn the financially troubled company around. This case study, while highlighting the troubled times at Goodyear, offers scope to discuss the restructuring strategies adopted by Robert Keegan and the probability of a successful turnaround. A structured assignment ''306-044-4'' is available to accompany this case.