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.
The Michelin Group aims for complete carbon neutrality by 2050, and it seems that every little helps. The tyre maker’s efforts even extend to its communications, and so it was that when sharing news of a new product’s impending launch, Michelin encouraged invitees to take their ‘first eco-action’ by spurning e-mail contact in favour of text messages. It explained that this form of communication’s carbon footprint was 0.00125g, some 200 times smaller than that of an e-mail. I did not know that.
The Automobile Club de l’Ouest has announced a three-season deal with Michelin for the supply of tyres to the new top class of endurance racing, poised to take to the track in the 2020-21 FIA World Endurance Championship (WEC).
Sony has appointed Michelin ‘official tyre technology partner’ for its PlayStation brand’s Gran Turismo franchise. The collaboration was announced in New York on 23 August, at the PlayStation Theater on Broadway.
Michelin has named Alexis Garcin as the next chairman and president of Michelin North America. He succeeds Scott Clark, who was recently promoted to Michelin’s Group Executive Committee as executive vice president responsible for the global passenger car and light truck business, motorsports, Experiences (including the Michelin Guides) and regional oversight of the Americas.
Florent Menegaux, who will take up his post as chief executive officer of Michelin on 17 May, wants the company’s Group Executive Committee to place a greater focus upon strategic arbitrage. To aid the Committee’s evolution, the tyre maker has appointed three new senior managers.
Investments totalling CA$21 million (£12.3 million) will add 150 new jobs to the Michelin tyre factory in Nova Scotia, Canada and make permanent 200 temporary positions that were previously slated to end in 2020. The investments take the form of two new projects at Michelin’s Pictou County site – a new winter tyre line and the North American launch of a new process for semi-finished materials. These projects are valued at $9 million and $12 million respectively.
Every year, US-based truck manufacturer Paccar Inc. recognises suppliers who meet or exceed its ‘10 PPM’ quality standard – the equivalent of ten or fewer defective parts for every million components shipped to PACCAR. This year, PACCAR acknowledged 268 suppliers in 26 countries with a 10 PPM Supplier Quality award for achieving this high level of quality performance, and additionally for meeting meet demanding criteria for delivery performance, customer support, and business impact.
The argument against prematurely dismounting tyres voiced by Michelin here in the UK and in Europe has become a topic of conversation at the North American International Auto Show in Detroit this week. The tyre maker’s global initiative to promote consumer awareness was presented at the show yesterday by Michelin North America’s recently-appointed chairman and president, Scott Clark.
With the creation of a 50-50 joint venture, Michelin North America Inc. says it and Sumitomo Corporation of Americas will form the second-largest player in the United States’ wholesale tyre market. The two companies have entered into a definitive agreement to combine their respective North American replacement tyre distribution and related service operations. The transaction is subject to customary approvals.
At the end of this year, Pete Selleck’s six-year tenure as chairman and president of Michelin North America will come to an end, and the Michelin Group has named Scott Clark his successor. Clark begins in these roles on 1 January 2018. In addition, Joanie Martin also has been named chief administrative officer, a newly created role in the company.
On 26 September, Michelin North America, Inc., filed suit against Tire Mart Inc., doing business as Braven Off-Road, alleging the company has infringed a design patent covering the BFGoodrich Mud-Terrain T/A KM2 tyre.
Michelin North America has celebrated half a century of partnership with the retailer it says has not only sold more Michelin tyres than any other, but also introduced the radial tyre into the USA. Department store chain Sears signed an agreement with Michelin in 1965 to sell Michelin radials under the Allstate trademark, a deal that kicked off a collaboration that has now seen more than 135 million tyres sold through Sears outlets.