Jean-Dominique Senard has announced that he does not want to stand for re-election when his tenure ends in 2019.
Michelin CEO Jean-Dominique Senard has announced that he does not want to stand for re-election when his tenure ends in 2019.
To plan his replacement in line with corporate governance best practices and in the group’s best interests, non-managing general partner Sages conducted a thorough selection process several months ago working closely with Michelin’s supervisory board and Senard 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 the 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’s recommendation. The general partners subsequently held a meeting during which this recommendation was approved by Senard.
All participants in the company’s governance system agreed that management continuity should be secured immediately, in line with Michelin’s values.
The decision was made to elect Florent Menegaux as general managing partner and Yves Chapot as managing partner. Once these replacements have been made, and in accordance with the company’s bylaws, Sages will act on the supervisory board’s recommendation that Jean-Dominique Senard is succeeded as CEO by Menegaux at the close of the 2019 Annual Shareholders Meeting.
February 14, 2018