FRANCE: Michelin managing partner Didier Miraton to leave early
Michelin managing partner Didier Miraton is to leave the tyremaker ahead of his due date for departure in a shake-up that will see a reshuffle in management.
The French manufacturer - describing the change as "an adjustment in Michelin corporate governance" - noted it had been decided to "put an end" to Miraton's appointment as management partner, although the reason for the departure is unclear.
"He will leave Michelin in agreement at the end of June," a Michelin spokesman in Paris told just-auto.
"He was not forced to leave, it was a decision taken regularly, where it was made with the agreement of the board and association of the group which decided together to say the mission of M. Miraton was ending at the end of June."
Miraton will receive a total severance payment equivalent to the salary, bonus and other compensation received in respect of 2009 and 2010, a total gross amount of
around EUR1.8m (US$2.6m) or EUR820,000 after deduction of withholding taxes.
Michelin was unable to confirm what date Miraton was due to have left. "He is leaving ahead of his date, that was predicted," said the Michelin spokesman.