Bridgestone Americas' Lampe to Retire; 30-Year Veteran to be Succeeded by Mark Emkes

NASHVILLE, Tenn.--Jan. 7, 2004--Bridgestone Americas Holding, Inc. (BSAH) today announced that John Lampe, that company's chairman, CEO and president, is retiring effective March 31, 2004, after more than 30 years of service. Lampe will be succeeded as chairman and CEO of BSAH by Mark Emkes, currently chairman, CEO and president of Bridgestone/Firestone North American Tire, LLC (BFNT), the largest subsidiary of BSAH. Lampe will remain on BSAH board of directors following his retirement.

Lampe made his retirement announcement Wednesday afternoon during a company-wide live webcast and conference call intended to reach many of the almost 50,000 Bridgestone Americas associates. In remarks prepared for delivery during the webcast/conference call, Lampe explained his reason for taking retirement.

"Leading a 50,000 member family through difficult times has been an awesome responsibility, but it has also been a tremendous honor and privilege," said Lampe. "I am excited and gratified by the progress we have made in reinvigorating our company and in rebuilding the Firestone brand. And as our company continues its recovery, I believe that it must be led by an individual who is strong, energetic, enthusiastic, assertive and confident. While I like to think that I've exhibited those characteristics in the past I am not sure how much of my reserve is left for the future. I believe it is time for a change -- and this is an instance of my head over-ruling my heart. While my heart is telling me that I can stay, my head is telling me it is time for a fresh set of eyes, a new perspective and increased energy levels."

During his remarks, Lampe praised the choice of his successor, "I am extremely happy to announce that Bridgestone Corporation, our parent company and sole shareholder, has chosen Mark Emkes to succeed me as chairman and CEO of Bridgestone Americas Holding. I have known Mark for more than 25 years and he is the right person at the right time for the job, and it is our company's strength that we can promote from within." Lampe continued by saying, "While Mark and his team have made great progress at BFNT they still have a ways to go to make the tire business globally competitive and profitable. For that reason Mark will continue as chairman and CEO of that company concurrent with his responsibilities at BSAH."

In a letter to the BSAH Board announcing Lampe's retirement Shigeo Watanabe, chairman, CEO and president of Bridgestone Corporation (BSJ) thanked Lampe "for his tremendous efforts on behalf of Bridgestone Americas. It is through John's leadership that Bridgestone Americas has been placed squarely on the road to a remarkable recovery, a recovery which is the clear result of John's vision. John's success, and the success that Bridgestone Americas has enjoyed, can also be traced directly to the trust that his associates, customers and dealers have placed in him, a trust that he has earned during his thirty years with the company. John's vision for 'Making it Right' and his belief in treating his associates and business partners with dignity and respect will be his legacy here at Bridgestone Americas, a legacy that we will all respect and cherish."

Responding to Lampe's comments, Emkes thanked him for his support and said he was "excited and thrilled to be given the opportunity to lead the best organization in the rubber and tire business." He continued by saying that while there is "still a long way to go in our company's recovery plan, our team under John's leadership has laid the groundwork, the basis, for solid business growth in the future. It is a privilege and an honor to be succeeding John at this time in the company's history."

In addition to the information regarding Lampe and Emkes, BSAH also announced a several new management assignments and additions to the BSAH board of directors. Yuji Tomiyasu, formerly director, Americas and European operations, Bridgestone Corporation, has joined BSAH as executive vice president and has taken assignments as president and vice chairman of BFNT effective immediately. He will assume additional duties as vice chairman and president of BSAH on April 1, 2004.

Mike Gorey, currently vice president and controller, BSAH, and chief financial officer, BFNT, has been appointed chairman, CEO and president of BFS Diversified Products, LLC (BFDP), the subsidiary that holds and operates Bridgestone Americas' non-tire businesses, effective February 1, 2004. Gorey succeeds Lampe who has held those BFDP offices since 2003. Gorey will also become an executive vice president of BSAH effective February 1.

In addition to their responsibilities at BSAH, BFNT and BFDP, Tomiyasu and Gorey will be elected to the board of directors of BSAH effective January 7 and February 1, respectively. Hiroshi Kanai, Bridgestone Corporation's executive vice president and CFO, will also be elected to the BSAH board February 1, 2004.

In a related development, Lampe will be retiring from Bridgestone Corporation's board of directors effective March 30, 2004. Bridgestone Corporation will place Emkes' name in nomination for election to the Tokyo-based company's board of directors at the annual shareholders' meeting to be held in late March 2004.

With a bachelor's degree in business from Pittsburg State University, Pittsburg, Kansas, and a master's degree in international management from the American Graduate School of International Management ("Thunderbird"), Lampe joined the Firestone Tire & Rubber Company in 1973 following a tour of duty in the U.S. Army. His first position was as a trainee in the tire maker's Cincinnati operations with assignments in the organization's company-owned stores as a tire changer, salesman and store manager. He then began an international career spanning more than 12 years, holding positions of increasing responsibility in Singapore, Denmark, Spain, Costa Rica and Brazil. Returning to the U.S. in 1988, Lampe accepted the assignment as president of the company's former Dayton Tire Division in Oklahoma City. In 1995 he moved to Nashville, Tenn., to become president of Bridgestone/Firestone Tire Sales Co. and executive vice president of Bridgestone/Firestone, Inc. In October 2000, he became chairman, CEO and president of Bridgestone/Firestone at perhaps the most difficult time in the company's 100 year history. Since that time, he and his team have orchestrated what many are calling the biggest turnaround story in the tire industry, leading Bridgestone Americas (as the company is now known) from a $1.67 billion loss in 2001 to a net profit of $83 million in 2002. Even in the face of rising raw material costs and healthcare expenses, BSAH is expecting to post a profit for 2003. At the same time, sales of Firestone branded passenger and light truck tires have stabilized and the brand is growing in marketshare.

Emkes graduated from DePauw University with a bachelor's degree in economics in 1975 and received a master's degree in international management from the American Graduate School of International Management ("Thunderbird") in 1976. A twenty-seven year veteran with the company, he joined the former Firestone Tire & Rubber Company as a college class trainee in trade sales, with his first assignment as a store manager in Baytown, Texas. He then joined the international side of the tire business, with assignments in the United Arab Emirates and several tours of duty in each of Spain, Mexico and Brazil, holding the position of president of Bridgestone/Firestone de Mexico (1990 to 1997) and Bridgestone/Firestone do Brazil (1997 to 2000). He returned to the United States in late 2000 to accept the assignment as president, Bridgestone/Firestone Latin American operations. Currently, Emkes serves as chairman, CEO and president of BFNT.

Tomiyasu joined Bridgestone Corporation in 1974 after receiving a bachelor of arts degree in economics from Keio University. He has held positions of increasing responsibility in the original equipment sales group, both in Japan and in Europe, including manager, OE sales department; general manager, global OE business planning department, and director OE sales administration division. He assumed his present responsibilities as director, Americas and European operations in early 2002.

Gorey, who has earned bachelor's and master's degrees in business administration from Miami University (Ohio) and the University of Iowa, respectively, joined the Firestone Tire & Rubber Company as a senior auditor at Akron in 1983. He has held a number of financial and management positions in the Bridgestone Americas North American tire business, including controller and later director of finance operations at the company's Des Moines, Iowa, plant and controller of U.S. tire manufacturing operations. He accepted his current assignments as vice president, finance BSAH and CFO and vice president BFNT in 2001.

Nashville-based Bridgestone Americas Holding, Inc. (BSAH) is a subsidiary of Bridgestone Corporation, the world's largest tire and rubber company. BSAH, through its subsidiaries, develops, manufactures and markets a wide range of tires to address the needs of a broad range of customers, including consumers, automotive and commercial vehicle original equipment manufacturers and those in the agricultural, forestry and mining industries. The companies also produce Firestone air springs, roofing materials, synthetic rubber, and industrial fibers and textiles and operate the world's largest chain of automotive tire and services centers.

Bridgestone/Firestone North American Tire, LLC. (BFNT), a subsidiary of BSAH, develops, manufactures, and markets Bridgestone, Firestone, Dayton and private and associate brand tires. The company is focused on wholesale and original equipment markets, supplying passenger, light truck, commercial vehicle, off-road, agriculture and other tires to its customers in North America.

BFS Diversified Products,(WFB1) LLC (BFDP), based in Carmel, Ind., is a subsidiary of BSAH. BFDP is responsible for BSAH's non- tire businesses which include the development, production and sale of market-leading commercial building and roofing products, industrial products (including air springs for trucks, trailers and other industrial applications), synthetic and natural rubber, and industrial fibers and textiles.