Michelin employee share ownership plan to boost staff influence

Clermont-Ferrand, France – Michelin Groupe has launched a new employee share ownership plan, open to 127,000 employees in 44 countries.

The initiative is part of the group’s regular offer of shares to employees and will run from 11 – 26 Sept this year.

As part of the programme, group managers set the subscription price at € 28.08 on 9 Sept. This price is 80% of the reference value – the 20-day average share price before the announcement.

Michelin said the initiative will see the group contributing two free shares for every share for the first five shares subscribed.

From six to 15 shares subscribed, the group contributes one free share for every share subscribed.

From 16 to 65 shares subscribed, the group contributes one free share for every five shares subscribed.

Beyond the 65th share subscribed, no further free shares are contributed by Michelin but the 20% discount is maintained.

Each employee may acquire up to 2,000 Michelin shares under the plan, within the legal limit of a maximum subscription amount pursuant to the local country regulations.

Employees who subscribe to the 2024 BIB'Action plan may exercise their voting rights at the shareholders meeting to be held in May 2025 and will receive the 2024 dividend as approved by the meeting.

“By increasing the percentage of capital held by employees, we are highlighting the unique and crucial role of each individual in implementing our strategy,” said Michelin finance chief Yves Chapot.