Michelin remains strong after earlier death of CEO

By Sylviane de Saint-Seine | | Automotive News Europe

Michelin generated a 22.98 percent gain in value during the third quarter, proving that investors remained confident about the company’s future following the accidental death of CEO Edouard Michelin May 26.

Edouard Michelin’s successor as chief executive, Michel Rollier, has reaffirmed the French tyre maker’s objectives. By 2010, the supplier wants to achieve an operating margin of 10 percent or more and a reduction in inventory levels to 16 percent of sales from…

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