Michelin: Changes to the composition of the Supervisory Board: new member appointed by cooptation and two members representin...

    Michelin: Changes to the composition of the Supervisory Board: new member appointed by cooptation and two members representing employees soon to join 

 PRESS RELEASEClermont-Ferrand – November 12, 2020

COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN

Changes to the composition of the Supervisory Board: new member appointed by cooptation and two members representing employees soon to join

New member appointed by cooptation to the Supervisory Board

The members of the Supervisory Board of Compagnie Générale des Établissements Michelin, meeting on November 12, 2020, noted the resignation of Cyrille Poughon from the Board due to new responsibilities he will be taking on in the Michelin Group.

The Supervisory Board members would like to thank Cyrille Poughon, who has been a member since May 16, 2014 and who was the first employee to sit on the Board, for his contribution to the work of the Board and its Audit Committee over the last six years.

At the same meeting on November 12, 2020, on the recommendation of the Compensation and Appointments Committee, the members of the Supervisory Board then unanimously decided to appoint by cooptation Jean-Michel Severino, replacing Cyrille Poughon, who had resigned, as an independent member of the Board and as a member of its Corporate Social Responsibility Committee.

Jean-Michel Severino, who is a French national, was born in 1957. He started his career as Inspector of finances and is a graduate of the Ecole Nationale d’Administration. Jean-Michel Severino is also graduated from ESCP Business School and the Institut d’Etudes Politiques in Paris and has a master’s degree in economics and a bachelor’s in law.

Since 2011, he has been CEO of Investisseurs et Partenaires (I&P), a fund management team specializing in financing for African start-ups and SMEs. He is a director and Chairman of the Audit Committee at Danone and a director and member of the Audit Committee at Orange. He is also a Senior Fellow and director at the Foundation for Studies and Research on International Development (FERDI) and a member of the French Academy of Technologies.

The appointment by cooptation of Jean-Michel Severino will be submitted for ratification at the Annual Shareholders Meeting called in 2021 to approve the 2020 financial statements. If ratified, his term of office will expire at the Annual Shareholders Meeting called in 2022 to approve the 2021 financial statements.

Two members representing employees soon to join the Supervisory Board

At the same meeting on November 12, 2020, the Supervisory Board noted the appointment of Delphine Roussy and Jean-Christophe Laourde as new members of the Board representing employees, designated as such in accordance with Article 15.2 of the Company’s Bylaws as amended by the Extraordinary Shareholders Meeting of June 23, 2020 in application of the changes introduced by the PACTE Act (Act No. 2019-486 of May 22, 2019).

Delphine Roussy and Jean-Christophe Laourde will take up office at the meeting of the Supervisory Board scheduled for December 14, 2020.

Delphine Roussy, who is a French national, was born in 1982. She is an employee of Manufacture Française des Pneumatiques Michelin, where she is Head of the Systems & Processes Division patents team. Delphine Roussy is also an advisor on the Auvergne-Rhône-Alpes Economic, Social and Environmental Council (CESER Auvergne-Rhône-Alpes).

Jean-Christophe Laourde, who is a French national, was born in 1975. He is an employee of Manufacture Française des Pneumatiques Michelin, where he is Distribution Program Manager, B2C for the Southern Europe Region.

The terms of office of Delphine Roussy and Jean-Christophe Laourde will expire at the Annual Shareholders Meeting called in 2024 to approve the 2023 financial statements.

Taking into account these appointments, the Supervisory Board is now composed of 11 members, of which two representing employees.

Investor Relations   Édouard de Peufeilhoux+33 (0) 6 89 71 93 73 (mobile)[e-mail]   Humbert de Feydeau+33 (0) 6 82 22 39 78 (mobile)[e-mail]   Pierre Hassaïri+33 (0) 6 84 32 90 81 (mobile)[e-mail]

Media Relations                 [phone] [e-mail]   Individual shareholders   Isabelle Maizaud-Aucouturier                [phone] [e-mail]   Clémence Rodriguez                [phone] [e-mail]

DISCLAIMER

This 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 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.

 

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• 20201112_PR_Michelin Supervisory Board