Jean-Dominique Senard continues as Michelin managing general partner
Michelin has announced Jean-Dominique Senard will continue as Michelin managing general partner. The news follows a meeting of the board of directors of Société Auxiliaire de Gestion (SAGES), in its capacity as non-managing general partner of Compagnie Générale des Etablissements Michelin (CGEM) on 6 October 2014. During this meeting SAGES submitted a proposal for approval to the Supervisory Board to renew Jean-Dominique Senard’s term for another four years from 22 May 2015 (the previous terms official expiry date).
During its meeting on 31 October 2014, Michelin’s supervisory board unanimously approved the proposed renewal, after the compensation and appointments committee “expressed a favorable opinion”. Therefore Jean-Dominique Senard’s term of office has been renewed for four years, and will expire at the close of the annual shareholders’ meeting in the first half of 2019.
It is interesting to note that the whole concept of terms of office is a recent addition to the bylaws of CGEM. Prior to the introduction of this concept in 2011 managing partners were only subject to an age limit of 72 years. The shareholders also decided that this four-year term would be renewable at the initiative of the aptly-named SAGES, with the agreement of the supervisory board of CGEM.