Compagnie Générale des Établissements Michelin announced that succession plan for Jean-Dominique Senard. The term of office of Michelin's Chief Executive Officer is due to expire at the close of the 2019 Annual Shareholders Meeting and, as he recently announced, Jean-Dominique Senard does not want to stand for re-election. To plan his replacement in line with corporate governance best practices and in the Group's best interests, the Non-Managing General Partner, SAGES, engaged in a rigorous, thorough selection process several months ago in full cooperation with Michelin's Supervisory Board and Jean-Dominique Senard, General Managing Partner, himself. As part of this process, and in accordance with the Company's Bylaws, the Board of Directors of SAGES made a recommendation that was presented by its Chairman, Jacques de Chateauvieux, to the Company's Supervisory Board meeting on February 9, 2018. The Supervisory Board issued a unanimous opinion in favor of SAGES' recommendation. The General Partners subsequently held a meeting during which this recommendation was approved by Jean-Dominique Senard. All participants in the Company's governance system agreed that management continuity should be secured immediately, in line with Michelin's values. As a result, the decision was made to submit the following resolutions to the shareholders at the company's upcoming Annual Meeting in May 2018: an extraordinary resolution to elect Florent Menegaux as General Managing Partner; an ordinary resolution to elect Yves Chapot as Managing Partner.