ZAFCO, a leading global manufacturer and distributor of automotive tyres, batteries and lubricants, has strengthened its corporate governance with the addition of Hee Se Ahn to its Board as an Independent Director, effective 1 January 2026. Bringing over three decades of specialised industry experience, Ahn is recognised for his extensive leadership in the global tyre sector.

His professional background is deeply rooted in international commerce, with significant achievements in overseas sales, strategic marketing and high-level management across key markets in Asia, Europe and the Americas. Prior to this appointment, his career included senior roles such as Executive Vice President at Nexen Tire and Managing Director at Hankook Tire, based in Seoul. Throughout his career, he has been instrumental in fostering international expansion and enhancing market positions while leading diverse, cross-regional teams, solidifying his status as a respected figure in the industry.

Zafar Hussain, Executive Director, ZAFCO Group, said, “We are pleased to welcome Hee Se Ahn to the Board of ZAFCO. His extensive international experience in sales, marketing and regional leadership will bring valuable perspectives to the company. His deep understanding of the global tyre industry will be a strong asset to both the Board and the management team.”

Amir Abbas, Executive Director, ZAFCO Group, said, “We are delighted to welcome Hee Se Ahn to the ZAFCO Board. He brings with him a global business mindset and rich insights into leadership and international business transformation. We look forward to his contributions as we continue to strengthen our global presence.”

Comments (0)

ADD COMMENT

Link Copied!

Nokian Tyres has approved an updated strategy and financial targets through to the end of 2029, setting a net sales objective of €1.8 billion–€2 billion and outlining measures to strengthen profitability and reduce leverage.

The Finnish tyre maker said it would prioritise sustainable, value-driven growth following what it described as the most significant transformation in its history.

“Over the past years, Nokian Tyres has navigated the most significant transformations in its history. This period has been a complete strategic reset as we rebuilt the new Nokian Tyres platform. As we now enter the next phase of our development, we will refocus on sustainable, value-driven growth. This positions us to take better control of the unpredictable also in the future and will reduce our exposure to geopolitical risks,” said President And Chief Executive Paolo Pompei.

Under the revised targets, the company aims for segments EBITDA of more than 24 percent and segments operating profit above 15 percent. It also intends to keep net debt to segments EBITDA below 2.

Nokian Tyres will continue to use segments EBITDA as its primary profitability metric and has defined a range for net sales rather than a single figure.

The group reiterated its dividend policy, targeting distribution of at least 50 percent of net earnings.

Strategically, Nokian Tyres said it would focus on its core segments. In passenger car tyres, it aims to maintain a market-leading position in winter tyres and deliver above-market growth in the all-season and all-weather categories. In heavy tyres, it is targeting above-market growth in agricultural and forestry tyres.

Vianor will continue to serve as a European sales and service channel for both passenger car and heavy tyres.

The company said market trends including electrification, a growing car parc, increasing rim sizes and rising demand for winter tyres support development in its chosen segments.

“Our updated financial targets set a clear direction for the future and reflect our ambition to create sustainable value for our shareholders. Profitability improvement will be driven both by volume growth and by more than EUR 100 million coming from targeted performance initiatives. While maintaining strong performance in the Nordics, we aim to accelerate growth in North America and Central Europe. We will prioritize value creation through premium positioning, improved product mix and disciplined cost and operational efficiency,” Pompei said.

Comments (0)

ADD COMMENT

Link Copied!

Carter’s Tyre Service has announced that Rob Watson will take on the role of Chief Executive Officer, adding this responsibility to his existing position as CEO of NTAW NZ. His appointment marks a significant development for the company, drawing on deep experience gained across New Zealand and the Pacific region.

Known for driving performance improvement and strengthening customer relationships, Watson brings a proven ability to lead service-oriented organisations. His focus will be on enhancing operational performance, supporting customers and empowering teams to maintain consistent service standards nationwide.

This leadership transition coincides with the forthcoming retirement of Mike Hollier in April. Hollier will remain actively involved in the coming months to facilitate a seamless handover. The company has acknowledged his valuable leadership and lasting contribution throughout his time with Carter’s Tyre Service.

Comments (0)

ADD COMMENT

Link Copied!

Falken’s AZENIS FK520 has earned a ‘highly recommended’ rating in the 2026 ACE Summer Tyre Test, securing fourth place overall with 135 out of 170 points. Tested in the popular 225/40 R18 XL size, with an average price of EUR 87, the tyre stood out as the most affordable option among the top performers, underscoring its exceptional value for money. Customers seeking premium engineering without the premium price tag therefore find a compelling proposition in this model.

The ACE assessment placed particular emphasis on safety, where the AZENIS FK520 delivered standout results. It achieved the highest possible aquaplaning score, sharing top honours with two rival products and demonstrating assured stability on waterlogged roads. In dry handling exercises, the tyre impressed with precise steering response, robust lateral grip and high-speed stability. Its performance on wet surfaces was equally balanced and dependable, reinforcing its all‑round competence in challenging conditions.

Beyond its strong showing against established premium competitors, the Falken AZENIS FK520 also offers broad real‑world relevance. Available in widely used fitment sizes, it is especially well suited to compact cars - a segment that accounts for substantial sales volume across Europe. The ACE result confirms that this combination of safety, dynamic capability and accessible pricing makes the AZENIS FK520 a thoroughly convincing choice for drivers who refuse to compromise on either performance or affordability.

Comments (0)

ADD COMMENT

Link Copied!

Kumho Tyre UK Ltd is continuing to invest in its truck and bus tyre operations with the expansion of its sales leadership team. The company has promoted Tony McHugh to the role of Sales Director for the TBR division, having previously worked with the business on a consultancy basis. In a parallel move, industry veteran Stewart Little has been appointed as TBR Sales Manager.

Little brings over four decades of tyre industry expertise to the position. Beginning his career in 1983 at branch level, he has since built a comprehensive understanding of the commercial sector through hands-on experience in retail, wholesale, and sales management. Prior to joining Kumho, he spent eight years at Giti, where he served most recently as UK Sales Manager following a five-year period in wholesale. His career also includes a 26-year tenure at National Tyres, equipping him with deep operational insight.

McHugh’s elevation to Sales Director recognises his strategic input into Kumho’s truck tyre development and signals the company’s growing confidence in its TBR product range. Together, these changes reinforce Kumho’s commitment to strengthening its position in the commercial vehicle tyre market through both internal progression and targeted external recruitment.

Little said: “I am extremely proud to be joining Kumho Tyre. It is a brand with a well-established reputation as a premium mid-range manufacturer, offering reliable performance and outstanding value to both dealers and end users. Kumho is a name that needs very little introduction, and I am looking forward to contributing to the continued success and enthusiasm of the team. Having spent my career working across all areas of the trade, I’m excited to bring that experience into the business at a time of such positive growth.”

Welcoming both announcements, Richard Lyons, Managing Director at Kumho Tyre (UK) Ltd, said: “We are delighted to congratulate Tony on his promotion to Sales Director (TBR) and to welcome Stewart to the Kumho team. These appointments demonstrate our ongoing investment in people as we continue to strengthen our position in the truck tyre market. Kumho now offers one of the most robust and competitive TBR ranges available, combining performance, durability and value. With Tony’s leadership and Stewart’s extensive industry experience, we are well positioned to support our customers and drive the next phase of growth for the brand.”

Comments (0)

ADD COMMENT

Link Copied!