PARIS — Outgoing Group Michelin CEO Jean-Dominique Senard is reportedly a favorite to become the next head of Groupe Renault, according to recent Bloomberg News and Reuters news reports.
According to the reports, Mr. Senard — who's scheduled to retire from his Michelin post at the 2019 Michelin shareholders' meeting — has the backing of the French government to take the helm at Renault, which is majority-owned by the state.
If appointed, Mr. Senard could hold both the CEO and chairman positions temporarily until Renault holds a shareholders' meeting, the reports added.
He will be replacing CEO Carlos Ghosn, who served as the CEO of Nissan and Renault and is in detention in Japan, charged with receiving "improper payment" as the CEO of Nissan.
Senard has been Michelin CEO since 2012 but notified the tire maker that he did not intend to stand for re-election in 2019. He joined Michelin in March 2005 as CFO and a member of the firm's group executive council. He was appointed managing partner in 2007 and co-managing general partner in 2011 alongside Michel Rollier, whom he succeeded as CEO in May 2012.
Michelin has recommended Florent Menegaux, senior executive vice president and chief operating officer, to succeed Mr. Senard later this year.