Michelin leader dies in boating accident

PARIS — Edouard Michelin, managing partner of leading global tiremaker Michelin, died in a boating accident during a bass fishing trip near Brittany. He was 43.

The French company, which was scheduled to release a new trucking market product this week, has announced that Michel Rollier, its other managing partner, would take full control of the company. According to news agencies, the company is now looking to appoint a second managing partner.

Michelin’s death raises the prospect of having the family dynasty run by outsiders for the first time in its 117-year history. Michelin’s six children are too young to take over at this point.

It is not the first time that the Michelin company and family has been hit with tragedy. Etienne Michelin died in 1932 and his brother Pierre in 1937, leaving the company without a direct family successor until 1955.

The North American arm of the company, based in Greenville, S.C. had been ramping up production of commercial products in recent months to keep up with surging heavy truck demand.

Recently, Michelin had announced it would double capacity and invest $92 million at its Waterville, N.S. plant, making the facility the second largest truck tire manufacturing plant in Michelin’s global network.

To meet the growing demand for retread products, Michelin also announced it’s constructing a new tread pressing plant in Mexico, adjacent to its Michelin Mexico headquarters and passenger tire plant in Queretaro.

— with files from Reuters