Skip to main content

Michelin: Creation of a Corporate Social Responsibility Committee (CSRC) of the Supervisory Board and governance changes

Written by Customer Service on . Posted in Public Companies.

 MEDIA INFORMATION
Clermont-Ferrand, June 24, 2020COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN
Creation of a Corporate Social Responsibility Committee (CSRC) of the Supervisory Board and governance changes
At the meeting held immediately after the Annual Shareholders Meeting on June 23, 2020, the Supervisory Board of Compagnie Générale des Établissements Michelin decided to make the following changes to its governance and to the Committees of the Board, with immediate effect:Thierry Le Hénaff, an independent member of the Supervisory Board, will act as Senior Independent Member.
 Concerning the Compensation and Appointments Committee (CAC):the Committee will be chaired by Jean-Pierre Duprieu, an independent Supervisory Board member;its other members will be Aruna Jayanthi and Anne-Sophie de La Bigne, both independent Supervisory Board members.
 Concerning the Audit Committee (AC):the Committee will be chaired by Patrick de La Chevardière, who was elected as an independent Supervisory Board member at the Annual Shareholders Meeting of June 23 and who served as Chief Financial Officer and member of the Executive Committee of the Total Group until July 2019;its other members will be Monique Leroux and Thierry Le Hénaff, independent Supervisory Board members, and Barbara Dalibard and Cyrille Poughon, non-independent members.
 A new Corporate Social Responsibility Committee (CSRC) of the Supervisory Board is being created, with the following members:the Committee will be chaired by Monique Leroux, an independent Supervisory Board member;its other members will be Anne-Sophie de La Bigne, an independent Supervisory Board member.The composition of these Committees may be adjusted in the future to include members representing employees appointed to the Supervisory Board in application of the amended bylaws adopted by the Annual Shareholders Meeting of June 23, 2020.DISCLAIMERThis press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with Autorité des Marchés Financiers, which are also available from the www.michelin.com/eng website. This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions as at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.About Michelin:Michelin, the leading tire company, is dedicated to enhancing its clients’ mobility, sustainably. A global mobility leader, Michelin designs, manufactures and distributes the right tire for every customer need and use, as well as services and solutions that improve the efficiency of transportation systems. Michelin also offers its customers opportunities for unique experiences during their trips and travels. In addition, Michelin is developing high-tech materials for use in a wide variety of applications. Headquartered in Clermont-Ferrand, France, Michelin is present in 170 countries, employs more than 127,000 people and operates 69 tire plants that together produced around 200 million tires in 2019. (www.michelin.com)Attachment2020-06-24 _CP_Corporate_Governance_changes_EN

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.