The International Rubber Study Group (IRSG) introduced its new Secretary General, Professor Joseph Adelegan, today. Professor Adelegan officially took up the post of Secretary General on 1 December, 2022.

IRSG claims that Professor Adelegan is a C-Suite Executive and an international development expert. He is also a professor of Practice of Environmental Science and Engineering, and a practitioner-scholar in management, with over three decades of professional trajectory across 20 African countries, Europe and the United States. According to IRSG, his work experience spans several organisations, including the United Nations, development finance institutions, international organisations, government, non-governmental organisations, education, innovation and research institutions, among others.

He has extensive experience in the sustainable investment, disruptive innovation and circular economy of the elastomer products. IRSG states that he has held senior roles at the United Nations as the team lead for the Global Circular Economy Program of the United Nations Technology Innovation Lab at the first European Lab in Finland, and as a Senior Advisor at the United Nations Office of Project Services in Denmark.

Professor Adelegan was the Division Chief at the Office of the Vice President of the ECOWAS Bank for Investment and Development, an international development financial institution established by ECOWAS Treaty and covering 15 ECOWAS countries. As per IRSG, he was a representative of Africa and the Middle East at the Climate Investment Trust Fund at the World Bank, Washington DC, United States. His portfolio has included programs and projects funded by the European Union, World Bank, Green Climate Fund, Climate Investment Fund, African Development Bank, ECOWAS, African Union, NEPAD Agency, Foreign and Commonwealth Development Office (FCDO), Australian Aid, several United Nations agencies and funds among others.

IRSG claims that Professor Adelegan has held several board appointments, created strategic partnerships and mobilised resources from development agencies, development finance institutions and several donor agencies. He was a member of the World Economic Forum Global Agenda Council, Geneva, Switzerland and Non-Executive Director of the European Sustainable Development Organization, among others. 

Plus, according to IRSG, he was a professor of Environmental Science and Engineering at Universities in Africa, Europe and North America. He was a Professor of the Practice of Civil and Environmental Engineering at the University of Venda, South Africa. IRSG states that he is also a visiting professor of Water and Energy Engineering at the Pan African University, Institute of Water and Energy Sciences (including Climate Change), Tlemcen, Algeria, established by the African Union. He was a visiting professor of Environmental Management at the Commonwealth University, London, United Kingdom as well. As per IRSG, he is a professor of Environmental Leadership at the Missional University, North Augusta, South Carolina, United States.

Furthermore, Professor Adelegan is a recipient of several global awards. These include the 2006 Young Global Leader of the World Economic Forum, Geneva, Switzerland; recognition in 2007 as an Inventor Social Entrepreneur and Ashoka-Lemelson Fellow by the Ashoka Innovators for the Public and the Lemelson Foundation based in the United States; 2009 Technology Pioneer of the World Economic Forum, Geneva, Switzerland; 2009 Technology Award Laureate and Prize Recipient of the Technology Museum of Innovation, San Jose, California, United States; 2010 Member of the Crans Montana Forum of New Leaders of Tomorrow, Geneva, Switzerland and 2010 Member of the Clinton Global Initiative, New York, United States, among others.

IRSG claims that he is in high demand as a regular speaker at international conferences in Africa, Asia, Europe, South America, North America and Australia. He has made appearance in CNN as 2008 Principal Voices on the ‘Economics of Energy’ by CNN in association with Shell, Times and Fortune Magazine. According to IRSG, he has travelled to over 120 countries in this regard. Besides, he has written over 30 publications on several topical issues.

As for his qualifications, IRSG states that Professor Adelegan earned two Doctorate Degrees. He earned a Doctor of Business Administration (DBA) from the Case Western Reserve University, Cleveland, Ohio, United States. He also gained a Doctor of Philosophy (PhD) in Civil and Environmental Engineering from the Nigerian Premier University of Ibadan, as per IRSG. He is an alumnus of a number of executive programs, including the United Nations University, Tokyo, Japan; the University of California, Berkeley, United States; Santa Clara University, Santa Clara, California, United States; John F Kennedy School of Government and the Harvard Business School, Harvard University, United States, among others.

IRSG claims that Professor Adelegan is a seasoned and rounded professional with broad experience and extensive global networks. He will be building strategic partnerships and provide intellectual leadership to position IRSG as the knowledge hub and repository centre for the world rubber industry.

Indian tyre manufacturer Apollo Tyres Ltd reported a 3% increase in annual revenue to INR 261.23 billion for fiscal year 2024-25, while its net profit fell 35 percent from the previous year.

The company, which markets its products under the Apollo and Vredestein brands, saw its operating profit decline to INR 35.71 billion for the full year, compared with INR 44.47 billion in the previous fiscal year.

For the fourth quarter ended March 31, Apollo Tyres posted a revenue of INR 64.24 billion, up 3% year-on-year, while quarterly net profit dropped to INR 1.85 billion from INR 3.54 billion in the same period last year.

"We acknowledge that our performance over the past few quarters has not met industry benchmarks and our own expectations. After a thorough internal review, we have identified the key challenges that contributed to this underperformance," said Onkar Kanwar, Chairman of Apollo Tyres.

"With targeted strategies now in place to address these issues, we are confident in our ability to deliver stronger results in the coming quarters," he added.

Apollo Tyres, which has manufacturing facilities in India, the Netherlands and Hungary, distributes its products in over 100 countries.

Elmer Wiemer, Chief Financial Officer and designated Chief Executive Officer of Heuver Group, has passed away. The group shared the sad news in a statement announcing that he passed away on 4 May at the age of 48 after a brief illness.

Wiemer has had a lasting impact on the Heuver Group since he took office in 2020. As CFO, he played a pivotal role in bolstering the course, advancing the organisation's professionalism and attaining long-term success. His strategic vision and astute financial sense were always bolstered by a strong sense of accountability and a kind, humane leadership style.

“He was a true inspiration. Elmer’s legacy is tangible in the way we work together, in the culture he helped shape and in the ambitions he helped realise. We lose in him not only a leader, but also a warm personality, a dedicated colleague and a dear friend,” said Heuver Group management.

Goodyear has launched the award-winning Goodyear Eagle F1 Asymmetric 6 tyre in the United States and Canada. The premium summer tyre has emerged the winner in the 2025 AutoBild test for ultra-high-performance (UHP) tyres and is aimed at a wide range of sporty and luxury cars, crossovers and SUVS.

With its unique tread composition that optimises rubber-to-road contact, the Goodyear Eagle F1 Asymmetric 6 offers responsiveness and stability for dynamic driving. While the flexible tyre compound provides better grip in hot weather, the asymmetric tread pattern guarantees rapid responsiveness and traction in turns. To guarantee a peaceful, pleasant ride, the tyre pattern and lightweight design also reduce road noise. Goodyear's SoundComfort and SealTech innovations are two notable features found in certain Eagle F1 Asymmetric 6 fitments. For a more peaceful and elegant driving experience, SoundComfort reduces road noise, while SealTech successfully seals punctures up to five mm. Because of its high load rating and low rolling resistance, it is perfect for contemporary SUVs and electric cars, which require more from their tyres in order to maximise economy and range.

Nearly 90 percent of SKUs for the Goodyear Eagle F1 Asymmetric 6 are 18 inches or greater, with over 100 sizes available in the 17–23-inch range. Numerous well-known automobiles, such as the BMW M3/M4/X3/X4/X5/X6/X7, Audi A4/S4/A5/S5/A3/S3, Mercedes C-Class, Porsche Macan/Boxster/Cayman and Cayenne, and Tesla Model S, may be fitted with the Goodyear Eagle F1 Asymmetric 6. Customers may feel more secure about their purchase with the Goodyear Eagle F1 Asymmetric 6's 30,000-mile (50,000-kilometre) tread life limited guarantee. It is available at authorised Goodyear retailers across the United States and Canada.

Ryan Waldron, President, Goodyear Americas, said, "The Goodyear Eagle F1 Asymmetric 6 represents the next evolution of ultra-high-performance summer tyre, delivering precision, grip and comfort for drivers. As an award-winning tyre designed for a wide range of sporty and luxury vehicles, including the larger rim sizes on many of these vehicles, it provides a driving experience tailored to today's most premium enthusiasts. We're proud to introduce this globally recognised product to North America, bringing advanced technology and innovation that keeps drivers confident on the road."

Toyo Tires reported record first-quarter sales of 135.5 billion yen ($880 million), marking a 6.2 percent increase year over year and reaching its highest level since adopting its current accounting period in 2013. Despite the top-line growth, operating income fell 13.7 percent to 22.4 billion yen due to rising raw material costs and foreign exchange headwinds.

“Strong sales of large-diameter tyres in North America drove revenue growth but couldn’t fully offset higher production costs,” said the company in its earnings statement. The Japanese tyre maker saw a 7.7 percent sales increase in North America, which remains its largest market.

Profit Squeeze

Ordinary income plunged 42.7 percent to 18.3 billion yen, while profit attributable to owners dropped 41.4 percent to 13.5 billion yen, primarily due to foreign exchange losses from the yen’s appreciation. The Japanese currency strengthened to 154 yen per dollar during the quarter, compared to 146 yen in the year-ago period.

The company maintained its full-year forecast, projecting annual sales of 585 billion yen, up 3.5 percent from FY2024. Operating income is expected to reach 85 billion yen, down 9.6 percent , with operating margin declining to 14.5 percent from 16.6 percent last year. The annual dividend forecast is 125 yen per share, up from 120 yen in the previous fiscal year.

“Assuming tariff impact can be absorbed with appropriate measures, earnings forecasts for FY2025 remain unchanged,” the company stated, maintaining its dividend payout ratio target of 30 percent  or higher.

Production and Expansion

The tyre maker plans to increase production volume by 6 percent in FY2025 compared to the previous year, with significant growth in both Japanese and European operations. First-quarter global production volume was 59,100 tons, representing 98 percent of the previous year's level.

Capital investment for FY2025 is projected at 35.6 billion yen, up from 25.6 billion yen in FY2024, signalling continued expansion despite market headwinds. The company has invested 194 billion yen in capital expenditures over the past five years.

Market Conditions and Raw Materials

Raw material costs continue to pressure margins, with the company projecting a negative impact of 10.5 billion yen for FY2025. Natural rubber price increases are expected to cost 7.4 billion yen, while petroleum products will add 2.0 billion yen in costs, and other materials will contribute 1.1 billion yen to the cost pressure.

First-quarter sales volume showed strong recovery in the Japanese replacement tyre market, reaching 97 percent of the previous year’s level. In comparison, North America demonstrated robust growth at 105 percent year-over-year.

Product Innovation and Corporate Initiatives

The company recently launched premium tyres for high-roof kei cars in Japan with enhanced wet grip performance. These tyres feature eco-friendly materials that improve wet braking performance by 12 percent while reducing rolling resistance by 9 percent.

In March, the company introduced new SUV tyres designed specifically for quiet city driving that meet the “Low Car Exterior Sound Tyres" voluntary standard established by the Japan Automobile Tyre Manufacturers Association.