Cooper Tire Establishes Roy V. Armes Scholarship In Recognition of Retiring CEO

FINDLAY, Ohio–(BUSINESS WIRE)–The Cooper Tire & Rubber Foundation, the philanthropic arm of Cooper
Tire & Rubber Company, has established the Roy V. Armes scholarship. The
new fund is in recognition of the contributions and achievements of
Cooper Chairman, Chief Executive Officer and President Roy Armes, who
retires from the company and its Board of Directors effective Aug. 31
after nearly 10 years of service.

The new scholarship is designed to assist the children of Cooper
employees in the United States who are graduating high school seniors
going on to study at an accredited four-year college or university,
majoring in either business or engineering. Each year, one student will
be awarded the Armes scholarship and will receive $5,000 toward their
continued education. In addition to other qualifying criteria,
applicants will be required to write an essay about leadership, a topic
that Armes has championed for decades. The first Armes scholarship will
be awarded in 2017.

“Roy greatly values education and believes that leadership skills are an
essential element for young people to possess in today’s global economy.
We could not think of a better way to honor his many accomplishments and
contributions than to establish a scholarship in his name that will be
awarded in perpetuity, assuring a lasting legacy,” said Brad Hughes,
Cooper’s Chief Operating Officer, who will assume the role of President
and Chief Executive Officer of Cooper effective upon Armes’ retirement.
“We are pleased to honor Roy in a way that is connected to his personal
values of education and leadership and underscores his strong commitment
to the people of Cooper.”

The Armes scholarship will be administered by the Findlay-Hancock County
Community Foundation, an independent philanthropic agency that manages
more than 350 funds, including over 100 scholarships.

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company (NYSE: CTB) is the parent
company of a global family of companies that specializes in the design,
manufacture, marketing and sale of passenger car and light truck tires.
Cooper and its subsidiaries also sell medium truck, motorcycle and
racing tires. Cooper’s headquarters is in Findlay, Ohio, with
manufacturing, sales, distribution, technical and design operations
within its family of companies located in more than one dozen countries
around the world. For more information on Cooper, visit www.coopertire.com,
www.facebook.com/coopertire
or www.twitter.com/coopertire.

Contacts

Cooper Tire & Rubber Company
Anne Roman, 419-429-7189
alroman@coopertire.com