DEFINITION of 'Edouard Michelin'
A former president and CEO of French tire manufacturer and map and guidebook company Groupe Michelin. Michelin became president and CEO of Groupe Michelin when his father, Francois, retired in 1999. During Michelin's tenure, Groupe Michelin became the market leader in tires after the Bridgestone/Firestone tire defect episode. Michelin also made a controversial decision to cut thousands of jobs even as the company experienced record profits and he implemented specialized production in Michelin's plants.
BREAKING DOWN 'Edouard Michelin'
Born in 1963 in France, Michelin earned his bachelor of science degree from the École Centrale de Paris in 1985. He immediately began working for the family business, but was called away to serve in the French navy from 1987 to 1989. Afterward, he returned to Groupe Michelin, where he would become leader of the company's U.S. operations. He also served on the board of Nokia Corp., was a member of the World Business Council for Sustainable Development and promoted environmentally friendly automobiles. Michelin drowned in a 2006 fishing accident.