Michelin launches BIB Action 2020 employee share ownership plan
Michelin has introduced an employee share ownership plan. Bib Action, as the plan is known, gives Michelin group employees the opportunity to subscribe to a rights issue reserved for them under preferential terms – namely at a discount. Michelin’s managing chairman decided to carry out the rights issue in order to “more deeply involve employees in the group’s growth and development through a dynamic relationship built on mutual commitments”. The subscription period for the five-year minimum ownership share scheme will run from 16 September to 1 October 2020. The rights issue was authorized by the Annual Shareholders Meeting of 23 June 2020 in the 22nd resolution.