Didier Miraton relinquishes managing partner role

Didier Miraton has stepped down from his duties as managing partner of Michelin. According to the company, which announced the news in Paris today (21 June 2011), the move is part of “the adjustment in Michelin’s corporate governance and executive management team” and was decided by the company’s managing general partners with the agreement of the firm’s supervisory board. However it also follows reports in Le Monde yesterday (20 June 2011), in which Miraton reportedly suggested that he wanted to leave. Therefore the precise background to this news is not clear.

Michelin’s statement said it was its managing general partners and supervisory board’s decision to “put an end” to Didier Miraton’s tenure. Nevertheless, in its report, attributed to an unnamed source, Le Monde said Miraton came to his decision because he believed the company’s current management had “fundamentally changed the practices” and overseen the establishment of a different culture at Michelin.

Michel Rollier, current managing general partner, paid tribute to Miraton’s accomplishments during his years with the group and thanked him for his dedication. A engineer through and through, Miraton (53) led the research and development department at Michelin and therefore had unprecedented access to the firm’s latest technologies and a hand in the development of some of Michelin’s less successful forward-looking technologies such as the now discontinued PAX run-flat system.

Although relinquishing his duties as managing partner, Didier 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 1.8 million euros (something like 820,000 euros after tax).

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