Michelin’s current Chief Executive Officer, Jean-Dominique Senard has been appointed as the new Chairman of the Board of Renault Group effective January 24th.
The company issued the statement as part of the group’s leadership transition since May 2018. Jean-Dominique Senard will continue to serve as Chief Executive Officer of the Michelin Group until his term expires in May 2019. With the handover just a few weeks away, Florent Menegaux, Managing Partner and future Chief Executive Officer, has already taken on an increasingly significant role in steering the Group, in seamless cooperation with Jean-Dominique Senard.
“Jean-Dominique Senard has asked that the compensation policy applicable to him at Michelin during this time should take into account the fact that he will be holding two positions simultaneously, thus calling for a reduction in his compensation,” Michelin said in a press statement.
Florent Menegaux will succeed Jean-Dominique Senard as head of Michelin as planned following the Group’s Annual Shareholders Meeting to be held on May 17, 2019 in Clermont-Ferrand, France.