Michelin : Creation of a Corporate Social Responsibility Committee (CSRC) of the Supervisory Board and governance changes

Creation of a Corporate Social Responsibility Committee (CSRC) of the Supervisory Board and governance changes

At the meeting held immediately after the Annual Shareholders Meeting on June 23, 2020, the Supervisory Board of Compagnie Générale des Établissements Michelin decided to make the following changes to its governance and to the Committees of the Board, with immediate effect:

• Thierry Le Hénaff, an independent member of the Supervisory Board, will act as Senior Independent Member.

• Concerning the Compensation and Appointments Committee (CAC):
  • the Committee will be chaired by Jean-Pierre Duprieu, an independent Supervisory Board member;
  • its other members will be Aruna Jayanthi and Anne-Sophie de La Bigne, both independent Supervisory Board members.

• Concerning the Audit Committee (AC):
  • the Committee will be chaired by Patrick de La Chevardière, who was elected as an independent Supervisory Board member at the Annual Shareholders Meeting of June 23 and who served as Chief Financial Officer and member of the Executive Committee of the Total Group until July 2019;
  • its other members will be Monique Leroux and Thierry Le Hénaff, independent Supervisory Board members, and Barbara Dalibard and Cyrille Poughon, non-independent members.

• A new Corporate Social Responsibility Committee (CSRC) of the Supervisory Board is being created, with the following members:
  • the Committee will be chaired by Monique Leroux, an independent Supervisory Board member;
  • its other members will be Anne-Sophie de La Bigne, an independent Supervisory Board member.

The composition of these Committees may be adjusted in the future to include members representing employees appointed to the Supervisory Board in application of the amended bylaws adopted by the Annual Shareholders Meeting of June 23, 2020.