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Michelin employee shareholder plan


Yves Chapot, General Manager and Chief Financial Officer

"The employee shareholder plan symbolizes employee confidence in the Michelin strategy and links them more directly to the Group's results. We would like to increase employee share capital ownership to around 4% by 2030, by making it easier for employees to access the shareholder plan, especially among production workers whose subscriber numbers increased sharply in 2022, to 47%.  Annualizing the BIB’Action shareholder plan should allow everyone to purchase shares on preferential terms more often, or at opportune moments in life. Regular participation offers the chance to buy Michelin shares at a fixed subscription price for each plan, which may vary in cost depending on the plan. This will have the effect of smoothing out the risk associated with investing in stocks and shares."

In figures


share of capital held by employee shareholders on 31/12/2022


number of Michelin employee shareholders on 31/12/2022

1,25 €

dividend per share, paid in May 2023 for the 2022 financial year (*) 
(*) approved by the Shareholder General Meeting on 12 May 2023
2022 financial year 

Equity structure

on 31/12/2022

French non-resident corporate shareholders
French resident corporate shareholders
Individual shareholders
Employee shareholders (retirees and ex-employees are registered as individual shareholders)

Come and join us!

Reasons why you should invest

Become a Michelin employee shareholder

Any investment in shares incurs the risk of losing your capital. Past performance of Michelin shares is no guarantee of their future performance. This does not constitute financial advice. This presentation is not an offer for sale nor a solicitation of an offer to buy Michelin shares. To obtain more detailed information on Michelin, especially any risk factors involved, please consult the public documents filed in France with Autorité des marchés financiers, which are also available from the www.michelin.com/en/ website.

Shareholder rights

Shareholder rights

Employee shareholders, regardless of whether they have acquired their shares via an Employee Shareholder Plan (BIB’Action plans) or whether these shares have been gifted by the company during a free share allocation plan (AGA plans) benefit from the same rights as individual shareholders:
•    being regularly informed of economic and financial results.
•    voting at Annual General Meetings: the right to vote is proportional to the number of shares held. All Michelin shareholders are  invited to attend the Shareholder General Meeting. All important decisions concerning the company’s future are subject to shareholder approval.
•    receiving dividends pro rata to the number of shares held, if a dividend payout is confirmed. Dividends are subject to income tax.
Employee shareholders also benefit from management fees being paid by the company.

Risks associated with share ownership

Regardless of how they have acquired their shares, employee shareholders face the same risks as other individual shareholders:
•    fall in share price: the share value depends primarily on the value investors attribute to the company, how it is run, its strategy, its future, based on a number of financial and economic analysis ratios and elements. It also depends on the international economic climate, geopolitical events and the health of its own business sector.
•    unfavorable changes to the tax system in relation to employee share ownership
•    exchange rate risk for shareholders not in the euro zone

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