Michelin: Michelin Group executives reduce their compensation
06 Avril 2020 - 10:50AM
Michelin: Michelin Group executives reduce their compensation
Press
ReleaseClermont-Ferrand – April 6, 2020
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS
MICHELIN
Michelin Group executives reduce their
compensation |
The health crisis has caused a noticeable
slowdown in the activities of the Michelin Group, which has led to
some employees having to undergo partial unemployment measures. In
this context, and as a demonstration of solidarity with the entire
employee community, the Managing Partners, the Executive Committee,
as well as the Chairman and independent members of the Supervisory
Board are reducing their remuneration.
Florent Menegaux and Yves Chapot, Managing
Partners of the Michelin Group, have chosen to reduce their
remuneration by around 25% for the months of April and May
2020.
In addition, the members of the Group’s
Executive Committee have voluntarily decided to reduce their
remuneration by around 10% during the same period.
These reductions will be continued as long as
Group employees are in partial activity due to the Covid-19 health
crisis.
Florent Menegaux and Yves Chapot have also
expressed their will to give up part of their 2019 variable
compensation paid in 2020, once submitted to the vote of the
shareholders at the annual general meeting to be held behind closed
doors on June 23, 2020.
Finally, the chairman of the Michelin Group
Supervisory Board, Michel Rollier, and its independent members are
joining this effort by donating 25% of their attendance fees
received in 2020 to foundations in their respective countries,
which are part of the fight against Covid-19.
Investor Relations Édouard
de Peufeilhoux+33 (0) 4 73 32 74 47+33 (0) 6 89 71 93 73
(mobile)edouard.de-peufeilhoux@michelin.com Humbert de
Feydeau+33 (0) 4 73 32 68 39+33 (0) 6 82 22 39 78
(mobile)humbert.de-feydeau@michelin.com Pierre Hassaïri+33 (0)
4 73 32 95 27+33 (0) 6 84 32 90 81
(mobile)pierre.hassairi@michelin.com |
Media Relations Hervé Erschler +33 (0) 1 45
66 22 22+33 (0) 6 70 47 85 04
(mobile)herve.erschler@michelin.comPascale Audibert + 33 0
(6) 34 09 82 67pascale.audibert@michelin.comIndividual
Shareholders Isabelle
Maizaud-Aucouturier +33 (0) 4 73 32 23
05isabelle.maizaud-aucouturier@michelin.com Clémence
Rodriguez +33 (0) 4 73 32 15
11clemence.daturi-rodriguez@michelin.com |
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
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.
- 20200406_Michelin_Michelin Group executives reduce their
compensation_EN
Michelin (EU:ML)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Michelin (EU:ML)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024