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Michelin’s
Corporate Governance
Strategy Fundamentals Businesses • Earnings 18•19
Michelin’s Corporate Governance
a model that is both highly original and modern
For the last 140 years, the Group’s parent Company,
Compagnie Générale des Etablissements Michelin, has
been a Partnership limited by Shares. As it favors the
deployment of long-term strategies developed by a stable,
committed management team and monitored by an independent
Supervisory Board, this structure fully complies
with modern corporate governance standards.
Another feature of this corporate structure, the registered
nature of its shares, enables Michelin to maintain a close,
direct relationship with each of its Shareholders.
A stable management team committed
over the long term
Experience
Michelin is run by one or more Managing Partners, who have
been Mr. Edouard Michelin and Mr. René Zingraff respectively
since 1991 and 1986. The Group’s Managing Partners are
always appointed from among widely experienced top
managers who have held operational posts at all levels of
the Company. At the Annual Shareholders Meeting of May
20, 2005, the Managing Partners will recommend to the
Shareholders the appointment of Mr. Michel Rollier as joint
Managing Partner.
Mr. Edouard Michelin was born
in 1963 and graduated as an engineer from
Ecole Centrale de Paris. He joined Michelin
Group in 1985 and managed Le Puy-en-Velay’s
(France) industrial production operations before
being appointed Chief Operating Officer
of Michelin North America. He was appointed
joint Managing Partner in 1991 and has been
heading Michelin since 1999.
Mr. René Zingraff was born in 1936.
He graduated as a chemical engineer and joined
Michelin Group in 1963 to manage Quality
operations for the United Kingdom. Before his
appointment as Joint Managing Partner in 1986,
Mr. Zingraff, who currently heads Group
cadre management, directed Michelin USA’s
industrial operations.
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