Michelin CGDEB (EU:ML)
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By Cristina Roca
Jean-Dominique Senard will continue to serve as chief executive of Compagnie Generale des Etablissements Michelin (ML.FR) until May, the tire maker said Thursday after Renault SA (RNO.FR) named the executive as its new chairman.
Michelin said Mr. Senard will continue in his post until his term expires in May, when Florent Menegaux will succeed him as head of the company. Mr. Menegaux's appointment was announced last year.
Mr. Senard, whom Renault named chairman of its board effective immediately, has asked that his compensation be reduced in view of the fact that he will be holding two positions simultaneously, Michelin said.
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(END) Dow Jones Newswires
January 24, 2019 08:02 ET (13:02 GMT)
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