Edouard Michelin

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.

Investopedia explains '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.


Filed Under: ,

comments powered by Disqus
Hot Definitions
  1. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following:
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option is purchased and the lower premium option is sold - both at the same time. The higher the debit spread, the greater the initial cash outflow the investor will incur on the transaction.
  3. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious debt when government leaders use borrowed funds in ways that don't benefit or even oppress citizens. Some legal scholars argue that successor governments should not be held accountable for odious debt incurred by earlier regimes, but there is no consensus on how odious debt should actually be treated.
  4. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the acquiring company will make an offer for the outstanding shares.
  5. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by additional investment would not warrant the expense. A harvest strategy is employed when a line of business is considered to be a cash cow, meaning that the brand is mature and is unlikely to grow if more investment is added.
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
Trading Center