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Michelin CEO Jean-Dominique Senard appointed as Renault chairman

Michelin CEO Jean-Dominique Senard  appointed as Renault  chairman

Michelin CEO Jean-Dominique Senard has been appointed as Chairman of Renault effective January 24th, 2019. The french tyre maker added that Jean-Dominique Senard will continue to serve as Chief Executive Officer of the Michelin Group until his term expires in May 2019.

Meanwhile, Renault picked up Thierry Bollore,  who is currently  deputy CEO of the French automaker, as the new CEO.

 Michelin’s leadership transition announced in February 2018 has been underway since May 2018. With the handover just a few weeks away, Florent Menegaux, Managing Partner and future Chief Executive Officer, has already taken on an increasingly significant role in steering the Group, in seamless cooperation with Jean-Dominique Senard, said the company.

 To ensure that the transition proceeds in line with the most rigorous ethical standards, special procedures will be implemented at Michelin.

 In addition, Jean-Dominique Senard has asked that the compensation policy applicable to him at Michelin during this time should take into account the fact that he will be holding two positions simultaneously, thus calling for a reduction in his compensation.

 Florent Menegaux will succeed Jean-Dominique Senard as head of Michelin as planned following the Group’s Annual Shareholders Meeting to be held on May 17, 2019 in Clermont-Ferrand, France.

 

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