Edouard Michelin dies in boating accident

Paris - Michelin Chairman Edouard Michelin died on Friday in a boating accident in the Atlantic Ocean off the French Brittany coast. He was 42 years old.

M Michelin's body was recovered by the French Coast Guard near the island of Sein in the afternoon of the same day, according to French news reports. His companion on the boat, the president of a regional fishing committee, has not been located.

Michel Rollier, Managing Partner of the Michelin Group said, "The tragic death, Friday last, of Mr Édouard Michelin is a trauma for all of us. My most profond thoughts are for his wife and their children and to François Michelin, who was very close to him.

"Pursuant to Michelin's governing by-laws, as of today, I am assuming the full responsibilities as the head of Michelin. Our strategic orientations are clear. They remain unchanged." he continued.

In a statement, the Michelin company said the tragedy is an "immense sadness for his family" and for the company´s 130 000 employees. Michel Rollier, co-managing partner with Eduoard Michelin, will step into the void, the company said, "ensuring continuity of the group´s management."

Michelin, the son of former managing partner Francois Michelin and great-grandson of company co-founder Edouard Michelin, had worked for the company since 1985 and had worked in a variety of positions - including general manager of manufacturing and truck tyre distribution in North America - before being named a managing partner in 1991. He became chairman in 1999, succeeding his father, Francois Michelin.

He was the youngest of François Michelin's four sons.