Board/Management Information • Feb 9, 2018
Board/Management Information
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The term of office of Michelin's Chief Executive Officer is due to expire at the close of the 2019 Annual Shareholders Meeting and, as he recently announced, Jean-Dominique Senard does not want to stand for reelection.
To plan his replacement in line with corporate governance best practices and in the Group's best interests, the Non-Managing General Partner, SAGES, engaged in a rigorous, thorough selection process several months ago in full cooperation with Michelin's Supervisory Board and Jean-Dominique Senard, General Managing Partner, himself.
As part of this process, and in accordance with the Company's Bylaws, the Board of Directors of SAGES made a recommendation that was presented by its Chairman, Jacques de Chateauvieux, to the Company's Supervisory Board meeting on February 9, 2018. The Supervisory Board issued a unanimous opinion in favor of SAGES' recommendation. The General Partners subsequently held a meeting during which this recommendation was approved by Jean-Dominique Senard.
All participants in the Company's governance system agreed that management continuity should be secured immediately, in line with Michelin's values.
As a result, the decision was made to submit the following resolutions to the shareholders at the Company's upcoming Annual Meeting in May 2018:
Once these replacements have been made, and in accordance with the Company's Bylaws, SAGES will act on the Supervisory Board's recommendation and appoint Jean-Dominique Senard as Chief Executive Officer, to be succeeded by Florent Menegaux at the close of the 2019 Annual Shareholders Meeting.
Valérie Magloire +33 (0) 1 78 76 45 37 +33 (0) 6 76 21 88 12 (cell) [email protected]
Edouard de Peufeilhoux +33 (0) 4 73 32 74 47 +33 (0) 6 89 71 93 73 (cell) [email protected]
Matthieu Dewavrin +33 (0) 4 73 32 18 02 +33 (0) 6 71 14 17 05 (cell) [email protected]
+33 (0) 4 73 32 68 39 +33 (0) 6 82 22 39 78 (cell) [email protected]
Corinne Meutey +33 (0) 1 78 76 45 27 +33 (0) 6 08 00 13 85 (cell) [email protected]
Individual Shareholders Jacques Engasser +33 (0) 4 73 98 59 08 [email protected]
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