Michelin’s Rollier to retire mid-year
In February 2011 Michel Rollier announced he didn’t intend to complete his current term of office as managing general partner and chairman of Michelin, as he would be 72 years old when his tenure ended. Rollier, now 67, has decided to retire from his current role this year and announced that at Michelin’s Annual Meeting on 11 May he will recommend shareholders accept that he leave office, effective that date. If shareholders agree, Jean-Dominique Senard, who was elected non-general managing partner in May 2007 and managing general partner last May, will succeed him as chairman from 11 May, 2012.
The choice of Senard as successor in the role of managing general partner was proposed by Rollier and accepted by shareholders at the 2011 Annual Meeting. At that time the Michelin Group’s corporate governance system was also adjusted to provide for Mr. Rollier’s succession. Senard’s current term of office, which began on 13 May 2011, will last four years and is renewable.
“Jean-Dominique Senard was elected managing general partner last May, and since then we’ve worked together to prepare my succession,” stated Michel Rollier. “The transition is now complete and the time has come to pass him the reins. Michelin is in fine shape and geared up to meet that many challenges that are sure to arise in our new phase of assertive growth underway since 2011. I know that Jean-Dominique will be an excellent chairman and that he will continue to proudly express Michelin’s values and ambitions. He has my full and absolute confidence.”
After a long career with the International Paper Group, Michel Rollier joined Michelin in 1996 as chief legal officer and director of Financial Operations. A member of the Group Executive Council, in late 1999 he was given responsibility for the entire Financial and Legal Affairs Department. He was elected managing general partner in May 2005, becoming the sole managing general partner a year later until being joined by Senard in 2007.