Michelin's Innovative Employee Ownership Initiative
Compagnie Générale des Établissements Michelin is proud to introduce its new global employee share ownership plan, known as "BIB’Action 2025." This initiative reflects Michelin's commitment to fostering a culture of ownership among its workforce. With nearly 115,000 active employees across 44 countries eligible to participate, this plan strengthens the bond between the company and its employees, empowering them to share in the company's success.
Commitment to Employee Engagement
Yves Chapot, the Managing Director and Chief Financial Officer, emphasized the importance of this program, stating, "Strengthening employee shareholding within the Michelin Group is a priority. By becoming shareholders, employees actively contribute to and benefit from the group's value creation." The ambitious goal is for 4% of Michelin Group's shares to be owned by employees by 2030, showcasing the company's long-term commitment to employee engagement.
Subscription Details
The subscription period for employees to enroll in the BIB’Action plan runs from September 10 to September 25, 2025. On September 8, 2025, the subscription price was established at €22.19 per share, offering employees a significant 30% discount on the reference price, which reflects the average of closing prices on Euronext Paris over a prior 20-day trading window.
What Employees Can Expect
Michelin's employee share ownership plan provides several attractive benefits:
- For every share subscribed, employees will receive free share contributions from the Group based on the number of shares purchased, incentivizing larger subscriptions.
- Employees are allowed to acquire a maximum of 2,000 shares in the plan, subject to local regulations.
- Voting rights will be accessible at the Shareholders Meeting in May 2026, allowing employees to have a voice in corporate decisions.
Understanding the Terms and Conditions
This program is specifically designed for employees of companies within the Michelin Group who have a minimum tenure of three months by the start of the subscription period. As part of the plan, Michelin will issue new shares, with a capital increase capped at 7 million shares. Employees participating in this plan must adhere to a five-year lock-up period before selling their shares, reinforcing a long-term investment perspective.
Calendar of Key Dates
Here are the essential dates related to the BIB’Action 2025 plan:
- Subscription Price Set: September 8, 2025
- Subscription/Modification Period: September 10 to 25, 2025
- Settlement/Delivery of Shares: October 28, 2025
Contact Information for Employees
Employees seeking more information about the BIB’Action 2025 plan can engage with their human resources department or refer to the documents provided to them. Direct questions can also be addressed to the following contact points:
- Investor Relations: Email: investor-relations@michelin.com
- Media Relations: Phone: +33 (0) 1 45 66 22 22
- Employee Shareholder Relations: Email: elisabete.antunes@michelin.com
Frequently Asked Questions
What is the BIB’Action 2025 plan?
The BIB’Action 2025 plan is Michelin's global initiative for employee share ownership, allowing eligible employees to purchase shares at a discounted rate while promoting a culture of ownership.
Who is eligible to participate in the plan?
All active employees who have been with the company for a minimum of three months by the subscription opening date are eligible to enroll in the BIB’Action 2025 plan.
What are the benefits of participating in the plan?
Participants benefit from a discounted share price, potential free shares based on subscription levels, and voting rights in corporate meetings, making them a part of Michelin's success story.
What are the key dates for the BIB’Action 2025 plan?
Key dates include the subscription price announcement on September 8, 2025, the subscription period from September 10 to 25, 2025, and the expected share settlement date of October 28, 2025.
How does the subscription price work?
The subscription price is set at €22.19, which represents a 30% discount relative to the reference price as determined by previous trading activity on Euronext Paris.
