Goodyear has announced the formation of a new market structure combining its Australia/New Zealand (ANZ) and ASEAN businesses into one cluster.

The new cluster, known as ASEANZ, is led by Prashant Lal as managing director.

The move represents a strategic move to enhance Goodyear’s fast-growing Asia Pacific business and capitalise on broader growth opportunities.

Lal joined Goodyear in 2023 as managing director, ASEAN, and has a successful track record of driving business transformations in challenging markets and developing future talent.

“The newly formed ASEANZ cluster will help our talented team drive growth and innovation in this strategically important cluster in Asia Pacific,” said Lal.

“By combining the strengths of our ANZ and ASEAN businesses, we will be better positioned to meet the evolving needs of our customers and consumers and capitalise on new opportunities,” he said.

“Merging ANZ and ASEAN together will also enrich careers and create additional opportunities for our associates in this expanded cluster by taking on increased responsibilities and developing higher competencies.”