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You are here: Home1 / Florent Menegaux

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Symbio: Stellantis taking stake in Michelin-Faurecia JV

News

Negotiations have commenced for vehicle manufacturer Stellantis to acquire a “substantial stake” in zero-emission hydrogen mobility firm Symbio, with the expectation that it will become a “significant player” along with Faurecia and Michelin. Commenting on the negotiations, Michelin’s Florent Menegaux said the arrival of Stellantis will “catalyse the tremendous industrial momentum” that the existing stakeholders have already achieved.

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Related news:

  1. Electromobility: Michelin, Faurecia create hydrogen fuel cell systems JV
  2. Michelin confirms acceleration of hydrogen plans
  3. Michelin COO Florent Menegaux explains the thinking behind this year’s investments
  4. Innovation awards for Michelin airless prototype tyre
23rd December 2022/by Stephen

Michelin publishes H1 2022 results, maintains full-year guidance

Company News

In a market hit by the systemic impacts of the conflict in Ukraine and the health crisis, the Michelin Group reports that its net income fell by 18.3 per cent despite a year-on-year increase in sales. The tyre maker nevertheless considers this a good result “in an extremely unsettled environment.”

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Related news:

  1. Michelin reports reduced sales, income for 2020
  2. Michelin: Volumes up 7.5% in Q1 2021
  3. Michelin: YTD sales up 15.6% to €17.2 billion
  4. Continental: Lower income despite strong tyre business in Q1 2022
27th July 2022/by Stephen

Road safety: Michelin renews commitment to UNRSF

Company News

Michelin has marked the renewal of its support for the UNRSF (United Nations Road Safety Fund) with a donation of one million euros to facilitate road safety improvements in lower- and middle-income countries. It will donate this over the coming two years via the Michelin Corporate Foundation.

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Related news:

  1. Garcin to lead Michelin North America
  2. Electromobility: Michelin, Faurecia create hydrogen fuel cell systems JV
  3. Michelin confirms acceleration of hydrogen plans
  4. Michelin presents sustainable race tyre
4th July 2022/by Stephen

Pierre Michelin moves closer to the ‘family-origin’ business

Career Tracks, Company News

Following the publication of Michelin’s first quarter 2022 financial results, group CEO Florent Menegaux commented on the appointment of Pierre Michelin as president of the Michelin family’s Mage-Invest holding company. Mage-Invest holds 4.2 per cent of the shares and 7 per cent of the voting rights of Michelin Group.

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Related news:

  1. Michelin appoints Guy Heywood as UK head
  2. Karl Naylor New Grouptyre MD
  3. Kwik-Fit names Andy Fern as new fleet sales director
  4. Chris Smith named as Michelin UK MD
18th May 2022/by Chris

Michelin: YTD sales up 15.6% to €17.2 billion

Company News

Year-on-year comparisons of financial performance tell us arguably more about global events than an individual company’s economic trajectory at the moment. Thus, it came as no surprise a few months back when Michelin reported much healthier first-half results compared with pandemic-riddled 2020. Similarly, eyebrows aren’t raised now when the company notes the impact of rising materials, shipping and energy costs as well as a shortage of semiconductors and labour shortages upon its performance in Q3 2021.

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Related news:

  1. Michelin reports reduced sales, income for 2020
  2. Michelin: Volumes up 7.5% in Q1 2021
  3. Goodyear defers dividend as volumes drop 18% in Q1 2020
  4. Nokian Tyres: Lower sales & earnings in 2020
26th October 2021/by Stephen

Michelin extends Menegaux & Chapot’s management mandates

Career Tracks

Florent Menegaux and Yves Chapot will remain at the helm at Michelin for a further four years. The Société Auxiliaire de Gestion (SAGES), under the chairmanship of Vincent Montagne and in its capacity as a non-managing general partner of the Compagnie Générale des Établissements Michelin (CGEM), has decided to renew the mandates of Menegaux as a Managing General Partner and of Chapot as a General Manager.

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Related news:

  1. Michelin presents sustainability-infused strategy to capital markets
  2. Florent Menegaux to succeed Senard as Michelin CEO next year
  3. Michelin shareholders approve Menegaux, Chapot appointments
  4. Menegaux succeeds Senard as Michelin CEO
6th October 2021/by Stephen

Michelin publishes “solid” H1 2021 results

Company News

The Michelin Group has shared details about what chief executive officer Florent Menegaux calls “a very good first half.” In an environment shaped by an enduring health crisis, a robust market recovery was tempered by major disruptions in the global supply chain. In this context, Michelin increased tyre volumes by 22.8 per cent, sales 19.6 per cent year-on-year, and achieved €1,421 million in segment operating income for the period.

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Related news:

  1. Michelin reports reduced sales, income for 2020
  2. Michelin: Volumes up 7.5% in Q1 2021
  3. Bridgestone: Operating profit down 3.1% in Q1 2018
  4. Continental announces preliminary data for Q1 2021
28th July 2021/by Stephen

Michelin presents sustainable race tyre

Company News, Product News

On-track competitiveness may not seem reconcilable with sustainability, but Michelin begs to differ. It presented its case to this end at the 2021 Movin’On Summit.

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Related news:

  1. No more flat tyres: Michelin presents airless solution for cars
  2. Michelin aiming for 80% sustainable materials in tyres by 2048
  3. Michelin tyres to be 100% sustainable by 2050
  4. Michelin validates Carbios plastic bottle to tyre recycling technology
8th June 2021/by Stephen

Michelin: Volumes up 7.5% in Q1 2021

Company News

Sales of Michelin tyres were 7.5 per cent higher in the first quarter of 2021 compared with a year earlier. This rise in sales volumes was driven by 20 per cent year-on-year market growth for truck tyres in the first quarter of 2021 and nine per cent market growth for car and light truck tyres.

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Related news:

  1. Michelin reports reduced sales, income for 2020
  2. Goodyear defers dividend as volumes drop 18% in Q1 2020
  3. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
  4. Nokian Tyres: Lower sales & earnings in 2020
27th April 2021/by Stephen

Michelin presents sustainability-infused strategy to capital markets

Company News, Premium
Michelin

Groupe Michelin’s Capital Markets Day presentation, conducted via webcast on 8 April, set out its agenda for the next decade, putting its plans in front of leading global banks and financial firms. Circling around a central theme of sustainability, the group executive committee, led by managing chairman Florent Menegaux and general manager and chief financial officer Yves Chapot, showed how Michelin intends to “diversify while strengthening” in order to achieve its key economic and ecological targets. Chapot and Menegaux stated that expanding “non-tyre revenue” up to more than one-fifth of the group’s turnover by 2030 would make the group more agile and robust in the face of future crises. The current global health crisis has been instructive in this regard; the committee credited the development of the group’s non-tyre portfolio with assisting in its resilience over the difficulties of 2020, and now intends to continue the acceleration of its diversification. Its digital and materials innovations will simultaneously “deliver new growth,” while contributing to the overall strength of the group: a leitmotif of the committee’s presentation.

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Related news:

  1. Bridgestone Enliten technology gets premiere on Volkswagen ID.3
  2. Michelin sales contract 20.6% in first half of 2020
  3. Green restart: Retreaded tyres as a decarbonisation aide
  4. Michelin UK resuming production at Stoke retreading factory
14th April 2021/by Andrew

Michelin reports reduced sales, income for 2020

Company News

Against the backdrop of the global coronavirus pandemic, Michelin Group reported sales of 20.5 billion euros in 2020, down 15.2 per cent. Segment operating income was 1.9 billion euros, representing 9.2 per cent of sales. Net income amounted to 625 million euros and was thus 63.9 per cent lower than in the previous year.

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Related news:

  1. Goodyear defers dividend as volumes drop 18% in Q1 2020
  2. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
  3. Nokian Tyres: Lower sales & earnings in 2020
  4. Michelin producing surgical masks in 10 European plants
16th February 2021/by Stephen

Michelin confirms acceleration of hydrogen plans

Company News

France’s government has launched a national hydrogen strategy valued at seven billion euros, and aims to build up capacity for hydrogen from non-fossil sources by 2030. Michelin applauds this step and has reiterated its commitment to its own goals in this field. The company says its work here will mean a “significant share” of its business will be non-tyre related in a decade’s time. Fabio Ferrari, co-founder of Symbio, is tasked with leading the development of Michelin’s Hydrogen Mobility strategy and supporting its deployment.

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Related news:

  1. Electromobility: Michelin, Faurecia create hydrogen fuel cell systems JV
  2. BioButterfly: Michelin site to gain prototype bioethanol-based butadiene plant
  3. Michelin and Faurecia invest 140 million euros in Symbio hydrogen mobility JV
  4. Michelin setting up Global Works Council with IndustriAll
10th September 2020/by Stephen

Michelin sales contract 20.6% in first half of 2020

Company News
Michelin

Michelin sales contracted more than 20 per cent in the first half of 2020 due to coronavirus affected markets. The 20.6 per cent contraction in sales resulted in an operating result of 310 million euros – 3.3 per cent of sales – 78.5 per cent less than in 2019 (1,438 billion euros). Volumes fell by 22.4 per cent. Operating income went from 1.381 billion to 177 million euros, while net income fell from 844 million to a loss of 137 million, with earnings per share going from 4.74 euros to a loss of 0.75 euros.

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Related news:

  1. Movin’On Summit cancelled
  2. Michelin supporting Hyundai tyre development programme
  3. Michelin managing partners take 25% pay cut
  4. Michelin issues tyre advice for truck fleets facing extended lay up
30th July 2020/by Andrew

Movin’On Summit cancelled

International News

Michelin shares that the Movin’On team has cancelled this year’s World Summit on Sustainable Mobility, which was due to be held in Montreal on 3, 4 and 5 June 2020.

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Related news:

  1. Startup Challenge joining Movin’On summit
  2. Michelin announces further Movin’On speakers
  3. Movin’On: First speakers for 2018 summit announced
  4. Michelin sales contract 20.6% in first half of 2020
24th March 2020/by Stephen

Michelin setting up Global Works Council with IndustriAll

Company News

On 27 January, Michelin signed an agreement with global union federation IndustriALL to set up the Michelin Global Works Council. The agreement was finalised by Florent Menegaux, chief executive officer of the Michelin Group, and Valter Sanches, general secretary of IndustriALL Global Union. Its signing follows nearly two years of discussion and negotiation.

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Related news:

  1. Further step forward for Michelin’s plan to secure French factories’ future
  2. Electromobility: Michelin, Faurecia create hydrogen fuel cell systems JV
  3. BioButterfly: Michelin site to gain prototype bioethanol-based butadiene plant
  4. France: Michelin, unions agree on support programme for redundant employees
3rd February 2020/by Stephen
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